Ibex Innovations, a Sedgefield, County Durham, UK-based developer of X-ray technology, raised £1m in funding.
Backers included the new North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia Fund Managers and existing investor IP Group plc.
The company intends to use the funds to roll out its next generation X-ray systems globally and create 13 new jobs.
Founded by Dr Gary Gibson and led by CEO Dr Neil Loxley, Ibex has developed systems fitting to existing X-ray machines to improve the quality of images while reducing the dose of radiation which the patient receives. The technology, which will initially provide an important new test for the early detection of osteoporosis, has been proven in tests with major multinational medical imaging companies and in trials at both Newcastle‑upon‑Tyne Hospitals and South Tees NHS Trusts.
However, the systems can also be deployed in other applications such as security scanners and in food testing, where studies have shown it can detect plastic in chocolate bars and glass particles in jars of baby food.
FinSMEs
26/11/2018