QV Bioelectronics, a startup developing an implant that uses electric currents to treat brain tumours, has received an £860,000 grant from Innovate UK.
The startup’s first implant, called GRACE, is currently in pre-clinical development. It is aiming to treat glioblastoma, the most common primary brain tumour, with electric field therapy (EFT).
The Cheshire-based company said it will use the latest capital boost to fund “critical activities” ahead of its first clinical trials with humans.
It follows on from £2m “pre-Series A” funding round in January and brings QV Bioelectronics’ total grant funding to £1.8m.
QV Bioelectronics was founded in 2018 by biomedical engineer Dr Christopher Bullock and NHS brain cancer researcher Dr Richard Fu.
The surgical implant aims to improve the quality of life and life expectancy for brain tumour patients by blasting dividing cancer cells with a low-intensity electric current.
“This award, alongside out latest funding round, will be instrumental in accelerating the development of GRACE,” said Bullock, who is also CEO of QV Bioelectronics.
“This technology has the potential to revolutionise cancer treatment, and we are thrilled to have Innovate UK’s backing as we work towards making a real difference in the lives of those affected by this devastating disease.”
The Innovate UK grant came via the Combined Investor Partnerships Award. In addition to the latest grant from the UK’s innovation agency, QV Bioelectronics has previously drawn investment from spinout backer Northern Gritstone and Elbow Beach Capital.
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