NuVision Biotherapies secures £4.8m funding

NuVision Biotherapies has secured £4.8m in funding to support its overseas expansion plans.

The boost comes following a funding round led by the Midlands Engine Investment Fund II through its appointed fund manager, Mercia Ventures, alongside the University of Nottingham and the Pioneer Group.

NuVision was founded in 2015 by Dr Andy Hopkinson, based on his research at the University of Nottingham. Its products aim to “harness amniotic membrane, the tissue that surrounds babies in the womb, to support wound healing after surgery and manage conditions including ulcers, burns, glaucoma and infections,” the company explained.

While NuVision’s first product to market, Omnigen, was established for use in operating theatres, the subsequent launch of specialist contact lens, OmniLenz, was designed to enable the use of amniotic membrane without the need for surgery – extending its use to optometrists in High Street practice.

NuVision currently supplies more than 160 NHS centres and private clinics across the UK, including Moorfields Eye Hospital. It also supplies clinics in 12 countries across Europe, Scandinavia, and the Middle East.

Following a successful clinical trial, a combination of Omnigen and OmniLenz is now being used to treat dry eye disease.

The Nottingham-based company confirmed that the funding will support it in “meeting growing demand by scaling up the business and entering more international markets.”

Speaking about the funding, chief operating officer at NuVision, Noel Waters, said: “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.”

“Our goal is to see treatment using our products become a global standard of care in ophthalmology and optometry,” he added.

Mercia Ventures and the Midlands Engine Investment Fund II have backed NuVision since its inception and provided successive rounds of funding in 2023 and 2024.

Mercia Ventures’ Hannah Tapsell Champan said: “NuVision has made huge strides forward over the past few years. From selling solely into surgical units, it now supplies locations ranging from hospitals to High Street optometrists. The team has shipped over 15,000 treatments and expanded to multiple markets across Europe and the Middle East. This latest funding will enable it to continue building momentum and scale up manufacturing.”