Owlstone Medical

What Owlstone Medical does

Owlstone Medical Ltd is a UK-based, privately held medical technology company founded in 2004 and headquartered at Cambridge Science Park, building the Breath Biopsy platform for non-invasive disease detection. The platform combines a proprietary breath collection system (the ReCIVA® Breath Sampler with the CASPER™ Portable Air Supply) with high-resolution analytical instrumentation, including a GC-Orbitrap-based OMNI platform and FAIMS-based portable devices (Lonestar, ultraFAIMS™), supported by the proprietary Breath Biopsy VOC Atlas® database of 200+ identified exhaled volatile organic compounds and EVOC® Probes for targeted pathway assessment. The company is developing clinical-grade diagnostic tests including LIBRA® (liver cirrhosis via a limonene EVOC Probe), the EVOLUTION program for early lung cancer detection, a multi-cancer early detection test funded by ARPA-H, and a cystic fibrosis Pseudomonas aeruginosa breath test, alongside a consumer-facing gut-health offering (OMED Health).

Owlstone generates revenue through sales of breath collection hardware and analysis services to pharmaceutical and academic research clients (AstraZeneca, Boehringer Ingelheim, Cancer Research UK, Mayo Clinic, Cleveland Clinic, Imperial College London, Harvard Medical School, etc.), contract research and biomarker discovery services for clinical trials, and a small subscription-based direct-to-consumer channel via OMED Health. Capital formation is a defining feature of the current business model: cumulative disclosed funding exceeds $150M across a $58M Series D (2021, Horizons Ventures-led), a $27M Series E first close (Jan 2025, Ventura Capital-led), and substantial non-dilutive awards from the Bill & Melinda Gates Foundation ($6.5M, 2024), the Cystic Fibrosis Foundation ($2.3M, 2025) and ARPA-H (up to $49.1M, 2025). Go-to-market is enterprise field sales targeting research institutions, pharma and government/defence buyers, with the OMED Health pilot adding an early B2B2C channel.

Name

Owlstone Medical

Legal name

Owlstone Medical Ltd

Website

https://owlstonemedical.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Owlstone Medical is a UK-based medtech company building the Breath Biopsy platform — combining the ReCIVA sampler, GC-Orbitrap and FAIMS analysis, and a 200+ VOC database — to enable non-invasive breath-based diagnostics for cancer, liver, respiratory, infectious and gut diseases, serving pharmaceutical, academic and government research customers.

Ownership category

akta.pro rank

Product category

Breath-based Medical Diagnostic Devices

NAICS

Analytical Laboratory Instrument Manufacturing (334516), Medical Laboratories (621511)

SIC

Laboratory Analytical Instruments (3826), Services-Medical Laboratories (8071), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Pulmonary Function Testing (PFT) & Respiratory Diagnostics (HLAKANAC)

akta.pro secondary industries

Blood Oxygen & Respiratory Monitoring (Pulse Oximetry, Capnography, Spirometry) (HLAHACAD), Respiratory Monitoring & Oximetry (Capnography, Pulse Oximeters, Respiratory Rate) (HLAHAGAI), Pulmonary Function & Respiratory Diagnostic Centers (PFT/Spirometry) (HLAFAKAJ)

Keywords

• Breath biopsy diagnostics
• VOC biomarker analysis
• Non-invasive disease detection
• Clinical breath analysis
• Medical diagnostic devices

Headquarters

HQ city

Cambridge

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Breath Biopsy Research Products and Services: Sale of breath collection devices (ReCIVA, CASPER), analysis services using GC-MS technology, and supporting software/consumables to academic and pharmaceutical research clients conducting clinical studies.
2. Clinical Trial Services: Contract research services for pharmaceutical companies and healthcare institutions conducting biomarker discovery and validation studies using Breath Biopsy technology.
3. Diagnostic Test Development and Commercialization: Development and future commercialization of proprietary diagnostic tests including lung cancer detection (EVOLUTION trial), liver disease detection (LIBRA), and multi-cancer early detection tests.
4. OMED Health Consumer Products: Direct-to-consumer breath analysis products for gut health monitoring through OMED Health brand, including device rental and subscription-based app access.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Owlstone Medical develops and commercializes the Breath Biopsy platform for non-invasive collection and analysis of volatile organic compounds (VOCs) from exhaled breath. The company manufactures breath collection hardware (ReCIVA Breath Sampler, CASPER Portable Air Supply), operates GC-Orbitrap-based analysis services, and maintains a proprietary VOC Atlas database of over 200 identified compounds. It also develops proprietary diagnostic tests including LIBRA for liver disease and the OMED Health Breath Analyzer for gut health, serving pharmaceutical companies, healthcare systems, and academic researchers.

Product overview

Owlstone Medical offers the Breath Biopsy® platform, a comprehensive solution for non-invasive breath analysis comprising collection hardware (ReCIVA® Breath Sampler and CASPER™ Portable Air Supply), the Breath Biopsy OMNI analysis platform using GC-Orbitrap technology, and the Breath Biopsy VOC Atlas® database. The company develops diagnostic tests including LIBRA® for liver disease, OMED Health Breath Analyzer for gut health monitoring, and the EVOLUTION lung cancer detection program. Supporting products include FAIMS-based portable analyzers (Lonestar, ultraFAIMS™), EVOC® Probes for targeted biomarker assessment, and laboratory services. The platform enables early disease detection and precision medicine across cancer, respiratory, gastrointestinal, and infectious diseases.

Differentiator

Problem solved

Functional benefit

Brands

• Breath Biopsy: The company's core platform technology for non-invasive collection and analysis of volatile organic compounds (VOCs) from breath for disease detection and precision medicine.
• Breath Biopsy VOC Atlas
• LIBRA
• OMED Health
• EVOLUTION
• EVOC Probes

Products and services

• ReCIVA Breath Sampler A breath collection device that pre-concentrates breath samples on adsorbent tubes, using inbuilt sensors to collect the fraction of breath associated with air deeper in the lungs to maximize collection of biologically relevant VOCs. Sold to research institutions and pharmaceutical companies conducting clinical studies.
• CASPER Portable Air Supply Provides a source of filtered clean air to industry standards for inhaled air during breath collection, minimizing background contaminant VOCs from entering breath samples. Used with the ReCIVA Breath Sampler.
• Breath Biopsy Collection Station Integrated breath collection system combining the ReCIVA Breath Sampler and CASPER Portable Air Supply for reliable, reproducible collection of breath VOCs across a wide range of applications. Sold to research institutions and pharmaceutical clients.
• Breath Biopsy OMNI Advanced analysis platform incorporating TD-GC-MS technology for high-resolution targeted and untargeted breath analysis, providing robust statistical analyses and detailed biomarker reports. Used by researchers and pharmaceutical clients for biomarker discovery.
• Lonestar VOC Analyzer Portable FAIMS instrument for clinical research to identify and measure VOCs related to illnesses including cancer, asthma, and tuberculosis, with high sensitivity and selectivity for point-of-care testing.
• ultraFAIMS Portable, tunable FAIMS instrument providing rapid monitoring of volatile compounds from breath, urine, and other bodily fluids with high sensitivity and selectivity for point-of-care testing.
• Breath Biopsy VOC Atlas A proprietary database repository of over 200 identified and quantified volatile organic compounds found in exhaled breath, providing scientific context for confident selection of candidate biomarkers across diseases including asthma, COPD, chronic kidney disease, and liver cirrhosis.
• EVOC Probes Exogenous Volatile Organic Compound probes enabling targeted assessment of specific biological pathways, increasing sensitivity for exhaled VOC biomarker analysis in disease detection. Used in research and clinical applications.
• LIBRA (Liver Breath Analysis) Non-invasive breath test using limonene EVOC Probe to detect liver cirrhosis earlier by probing liver function, suitable for screening children and adults. A diagnostic test in development for liver disease.
• OMED Health Breath Analyzer Portable hydrogen and methane breath analyzer device for on-the-go monitoring of the gut microbiome relevant for gastrointestinal conditions such as IBS and SIBO. Sold to consumers via the OMED Health subsidiary with subscription-based app access.
• EVOLUTION Lung Cancer Detection Program Lung cancer detection program using breath biopsy for early detection of solid tumors at Stage I, with the aim of distinguishing lung cancer from COPD and other respiratory conditions. Currently in clinical trial phase.
• Breath Biopsy Laboratory Services Specialist laboratory analysis service providing access to advanced HRAM TD-GC-MS platform, rigorous quality control pathways, and expert support for breath sample analysis. Sold to pharmaceutical companies and academic research clients.
• Breath Biopsy Microbiome Panel Panel for analysis of microbiome-related volatile compounds in exhaled breath, supporting gut microbiome research using Breath Biopsy sampling and analytical services.

Quantifiable outcome

• Aims to detect over 30 solid tumor types at Stage I using at-home breath test
• +1 more outcomes

Named customers12 records

Segments8 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

14 partnerships are on record, tiered core and minor.

• FDAcoreStrategic or Co-development Partner · 30 September 2024Research collaboration agreement with FDA to develop analytical methods to improve identification of specific chemicals in complex gaseous mixtures. Partnership provides access to VOC Atlas functionality through the FDA collaboration.
• NHScoreStrategic or Co-development PartnerClinical research collaboration for validation of breath biopsy technology in healthcare settings.
• Mayo CliniccoreStrategic or Co-development PartnerClinical research partnership for cancer detection studies using Breath Biopsy technology.
• Cancer Research UKcoreStrategic or Co-development PartnerPan-cancer trial collaboration and early cancer detection research partnership.
• University of ManchestercoreStrategic or Co-development PartnerColorectal cancer clinical trial partnership for breath biomarker validation.
• Yale UniversityminorStrategic or Co-development PartnerAcademic research collaboration for breath analysis and disease detection.
• Brigham HealthcoreStrategic or Co-development PartnerClinical research partnership for breath biomarker research.
• Imperial College LondoncoreStrategic or Co-development PartnerAcademic research collaboration for breath analysis studies.
• BC CancerminorStrategic or Co-development PartnerCancer research partnership for breath biomarker validation.
• Harvard Medical SchoolminorStrategic or Co-development PartnerAcademic research collaboration for breath analysis applications.
• University of CambridgecoreStrategic or Co-development PartnerHome location at Cambridge Science Park; ongoing academic research collaborations.
• Boehringer IngelheimcoreStrategic or Co-development PartnerPharmaceutical partnership for respiratory disease research using Breath Biopsy.
• U.S. Air ForceminorStrategic or Co-development PartnerResearch collaboration for exposure research and monitoring.
• Defense Innovation UnitminorStrategic or Co-development PartnerGovernment partnership for defense-related applications of breath analysis technology.

Scale indicators5 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• GRAIL: GRAIL develops multi-cancer early detection (MCED) blood tests (Galleri) targeting 50+ cancers at early stages, the most direct competitor to Owlstone's ARPA-H-backed MCED program using breath rather than blood.
• Exact Sciences: Exact Sciences (Cologuard) is the leading non-invasive cancer screening franchise, building a multi-cancer pipeline through its recent acquisition of Thrive Earlier Detection, directly comparable to Owlstone's breath-based early detection strategy.
• Spirosure: Spirosure markets the FDA-cleared Fenom Pro breath test for asthma, the closest direct peer using exhaled VOC analysis for respiratory disease diagnosis.
• Menssana Biosciences: Menssana is a pioneer in breath-based diagnostics and offers the FDA-cleared BreathLink system for heart transplant rejection, directly comparable to Owlstone's breath biopsy tests for respiratory disease monitoring.
• Echosens: Echosens markets FibroScan, the dominant non-invasive liver fibrosis assessment device, the most direct competitor to Owlstone's LIBRA breath-based liver cirrhosis test.
• MGC Diagnostics: MGC Diagnostics manufactures pulmonary function testing equipment and provides cardiopulmonary diagnostic solutions, comparable as a respiratory diagnostics hardware and services player.

Emerging players

• Freenome: Freenome is developing blood-based MCED tests (via cfDNA and methylation signatures), an emerging peer pursuing the same early cancer detection market from a different biological sample.
• Guardant Health: Guardant offers liquid biopsy cancer diagnostics (Guardant360, Reveal) and is expanding into MCED, comparable as a cancer diagnostics platform pursuing similar clinical use cases via a different sample type.

Broad incumbents

• Philips (Breathalyzers/Diagnostics): Philips is a broad incumbent in respiratory care and patient monitoring with a wide portfolio including breath-based and pulmonary diagnostics, an indirect comparable given its scale and presence in pulmonology.
• Thermo Fisher Scientific: Thermo Fisher manufactures the Orbitrap mass spectrometry technology that Owlstone's Breath Biopsy OMNI platform is built on, and sells comparable analytical instruments and clinical research services used by pharma and academic research clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/owlstonemedical
• LinkedInlinkedin.com/company/owlstonemedical
• Facebookfacebook.com/owlstonemedical

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds12 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Owlstone Medical