NuVision Biotherapies, a UK-based regenerative medicine company, raised £1.4m in funding.
The funding came from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund; Mercia’s own funds; and an investment from the University of Nottingham and BioCity.
The company intends to use the capital to fund clinical trials on its new treatment for dry eye disease.
Led by Dr Andrew Hopkinson, CEO, NuVision is advancing a therapy, Omnigen, based on research carried out at the University of Nottingham by Dr Andrew Hopkinson. It harnesses the regenerative properties of amniotic membrane which surrounds babies in the womb and is normally discarded at birth.
Founded in 2015 with funding from Mercia and the University, the company has also developed a bespoke contact lens product, OmniLenz®, that allows Omnigen to be applied in a five-minute procedure in outpatient clinics, eliminating the need for surgery and sutures.
NuVision has established fully licensed clinical grade manufacturing facilities at its premises in Nottingham’s MediCity, where it currently employs 16 people. The company, which initially focused on treating eye conditions, is now also expanding into wound treatment and has made sales to the NHS and internationally.