NuVision Biotherapies has completed a £500,000 funding round for its wound healing therapy, which could help prevent sight loss. Backing has been secured from Mercia Fund Managers, angel investors and the University of Nottingham.
The investment will allow the regenerative medicine company to further develop its product range, strengthen its management team and increase sales in the UK and internationally.
Investment director and head of life sciences and biosciences at Mercia Fund Managers, Peter Dines, said: "NuVision's cutting-edge therapies offer a highly effective and affordable wound treatment. While its initial products have focused on eye trauma, there is potential for patients with many other common conditions to benefit from this therapy.”
The company was set up in 2015 by Dr Andy Hopkinson to commercialise his research work carried out at the University of Nottingham. Its wound healing therapy harnesses the regenerative properties of amniotic tissue.
NuVision’s first product, Omnigen, is designed for use in eye surgery and provides a ‘biological bandage' for the treatment and surgical reconstruction of wounds.
Dr Hopkinson explained to OT that it can be used surgically to treat ocular surface conditions such as lacerations, burns and ocular surface inflammatory disease.
NuVision’s latest product, OmniLenz, is a bespoke contact lens that can be applied in the clinic treatment room and allows for the delivery of Omnigen regeneration without the need for surgery.
“This means patients with superficial acute and non-healing superficial ocular surface defects can be rapidly and cost effectively treated in the clinic,” Dr Hopkinson said, adding: “This provides ophthalmologists with new options to treat patients suffering with non-healing ulcers, emergency situations such as abrasions and acute burns and now even patients severe dry eye, therefore reducing the long-term care requirement.”