Mercia EIS Funds

£500k investment will help woundcare company follow its vision

9th February, 2018

A Nottingham regenerative medicine company which has developed a groundbreaking 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 NuVision Biotherapies to further develop its product range, strengthen 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 of Nottingham by Dr Andy Hopkinson, who is now the company’s CEO. Its innovative wound healing therapy harnesses the regenerative properties of amniotic tissue, which is found in the sac surrounding babies in the womb and is normally discarded at birth.

NuVision’s first product Omnigen® is designed for use in eye surgery and provides a ‘biological bandage’ for the treatment and surgical reconstruction of wounds. More than 2,400 treatments have been distributed since the product was approved for human and veterinary use in April 2016.

NuVisions’ latest innovation OmniLenz®, a bespoke contact lens, allows the simple delivery of Omnigen regeneration without the need for complex and costly surgery. Applied in the clinic treatment room, many more patients will benefit from treating wounds more quickly.

NuVision is also exploring other wound care applications and has funded a clinical study due to start in May using it to treat diabetic foot ulcers, which is a major clinical problem worldwide. The company has signed agreements with distribution partners in Ireland and Finland and is in talks with distributors in other countries.

Peter Dines, Investment Director and Head of Life Sciences & 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 and Reeve provided legal advice to Mercia while 3Volution advised the company.

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