NuVision Biotherapies, a health tech company developing products to speed up the healing of eye conditions, has raised £4.8m in a new funding round.
Spun out from the University of Nottingham, NuVision Biotherapies’s products use amniotic membrane, the tissue surrounding babies in the womb, to support the healing of wounds after surgery and manage conditions including glaucoma.
NuVision’s first product, Omnigen, was designed for use during operations while the company’s latest product, OmniLenz, is a specialised contact lens that allows the use of amniotic membrane without requiring surgery.
“This round of funding will enable the proven benefits of treatment with amniotic membrane to be made available to those patients with damage to their eyes caused by traumatic injury or following eye surgery and transform the lives of people living with chronic eye conditions like dry eye disease,” said NuVision COO Noel Waters.
“Our goal is to see treatment using our products become a global standard of care in ophthalmology and optometry.”
The spinout company secured its funding from the Midlands Engine Investment Fund, a British Business Bank investment vehicle managed by Mercia Ventures.
“The Midlands Engine Investment Fund II was established to back innovative businesses and industry leaders that create a positive impact in the region,” said David Tindall, senior investment manager at the British Business Bank.
“Seeing NuVision return to secure more funding after its successes is a testament to what the Fund stands for. This latest investment will support the business to accommodate growing demand for its products and enter new markets.”
Additional funding came from the University of Nottingham and Pioneer Group.
