NuVision Biotherapies is delighted to announce the recent completion of a £500,000 funding round backed by Mercia Fund Managers, angel investors and the University of Nottingham. The investment will enable the company to increase sales both in the UK and to develop markets internationally. NuVision will be able to further develop its product range and production processes as well as add build upon its existing management team. Legal advice was provided to Mercia whilst 3Volution advised the company.
NuVision was initially set up just over two years ago with the support of funding from Mercia. As a result of the funding, research work carried out by NuVision’s CEO, Dr Andrew Hopkinson could be translated from a laboratory based idea into a clinical, commercial product: Omnigen. The innovative regenerative therapy is now utilised by approximately 30 NHS hospitals and has been used to treat around 2000 human and animal patients globally.
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.”
Following receipt of the investment funds, the team look forward to future developments within the company and ultimately seeing more patients benefiting from this sight saving therapy both in the UK and further afield.