Cheshire-based medtech company QV Bioelectronics has secured a £2m funding boost for its “first-of-its-kind” brain tumour treatment.
QV Bioelectronics has been developing technology called GRACE, an implanted medical device that uses electric field therapy (EFT).
The technology works by exclusively targeting dividing cancer cells within the brain, avoiding healthy cells. The GRACE implant is currently in pre-clinical development.
The new funding will go towards expanding its pre-clinical studies to determine how safe the device is to use.
The investment came in a round led by the Fink Family Office and Science Angel Syndicate. Other participants in the round included Northern Gritstone, Elbow Beach Capital, SOSV, and Catapult Ventures.
“The GRACE device that Chris and Richard are developing is the definition of deep science, requiring expertise across multiple disciplines, that when brought together could dramatically improve outcomes for patients with brain tumours,” said Dr Johnathan Matlock, co-founder of Science Angel Syndicate.
“With this funding round, we are helping Chris and Richard move one step closer to the clinic and have set them up to achieve important pre-clinical milestones ahead of a Series A round.”
The £2m pre-Series A cash boost follows a £735,000 investment into QV Bioelectronics made in July 2021.
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