Alchemy Healthcare Ltd, a Clitheroe, UK-based biomedical company that has developed an innovative nasal delivery device, has received a £50K investment from the North West Fund for Biomedical.
The company intends to use the funds for further product development and clinical trials.
Led by CTO, founder and inventor Ian Harrison, Alchemy Healthcare has developed a device that is designed to provide a unit-dose, needle-free, delivery of dry powders into the nasal cavity. According to the company, this technology brings advantages in terms of high dose accuracy, relatively cheap manufacturing costs and usability across multiple markets and application areas.
The £25m North West Fund for Biomedical, which is run by SPARK Impact, is part of the £185m fund provided by the European Investment Bank (EIB) and European Regional Development Fund (ERDF), to supply debt and equity funding to small and medium sized enterprises in the North West of England.