Tate & Lyle Ventures, the UK sugar company’s corporate venture fund, has bought a minority stake for in food safety diagnostics company Lumora, a spin-out from Cambridge University, for £2 million (€3 million; $4 million), according to a spokesman.
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A spokesman said Lumora is an attractive investment because its bacteria and virus tests are faster and cheaper than those of its competitors.
The fund, which a spokesman said has looked at 55 investments, was launched in July 2006 with a £23 million commitment from Tate & Lyle.
The fund targets food technology and safety business as well as bio-materials investments in the US and western Europe.