A regenerative medicine company which has developed a therapy that can help prevent sight loss has completed a £500,000 funding round backed by Mercia Fund Managers, angel investors and the University of Nottingham.
The investment will allow Nottingham-based NuVision Biotherapies to further develop its product range, add to its management team and increase sales in the UK and internationally.
NuVision was set up in 2015 with funding from Mercia to commercialise research work carried out at the university by Andy Hopkinson, who is now the company’s chief executive.
Its wound-healing therapy uses the regenerative properties of amniotic tissue, which is found in the sac surrounding babies in the womb and is normally discarded at birth.
Peter Dines, investment director and head of life sciences and biosciences at Mercia Fund Managers, said: “NuVision’s cutting-edge therapies offer a highly effective and affordable wound treatment.
“While its initial products have focused on eye trauma, there is potential for patients with many other common conditions to benefit from this therapy.
“The funding will allow the company to build its sales and marketing operation, strengthen the management team and develop a wider range of products.”
Mills & Reeve provided legal advice to Mercia while 3Volution advised the company.
To find out more about NuVision Biotherapies, please click here to be taken to the website.