To treat the most prevalent and aggressive types of brain tumors, QV Bioelectronics, a Manchester-based medical device startup has raised £2M in a pre-series A fundraising round. The company is creating the world’s first electric field therapy implant.
Leading deep tech investors, both new and old, contributed to the funding of the venture. The round, which was led by the Bristol-based Science Angel Syndicate and the London-based VC Fink Family Office, included new investors Northern Gritstone, Elbow Beach Capital, SOSV, and Catapult Ventures as well as current investors.
Before moving into the clinical stage of development, the company will use the cash to support additional pre-clinical investigations to assess the safety and efficacy of the GRACE implant as well as the completion of the device design. Additionally, several other initiatives aimed at guaranteeing future commercial and regulatory success will be supported by the funding.
Clinical Director and Co-Founder Dr. Richard Fu and Co-Founder and CEO Dr. Chris Bullock commented, saying: “At QV, we are ultimately motivated by the challenge of making a real difference in the lives of brain cancer patients around the world.”
“We hope that GRACE will optimize the therapeutic effects of electric field therapy while functioning synergistically with other established and novel cancer treatments,” they continued. As we take the following crucial steps toward realizing this objective, we are thankful for the faith and support of our new and existing investors and look forward to working with them and our other partners.
The CEO and co-founder of QV Bioelectronics are Dr. Christopher Bullock, a biomedical engineer, and Dr. Richard Fu, a neurosurgery specialist and brain cancer researcher with the National Health Service of the United Kingdom (NHS).
QV Bioelectronics is led and co-founded by Dr. Christopher Bullock, and Dr. Richard Fu, a specialty registrar in neurosurgery and brain cancer research in the U.K.’s National Health Service.
Additionally, it is backed by a skilled team of engineers and scientists who have worked closely on the prototype design of the GRACE device with some of the best neurosurgeons in the UK. The Manchester-based manufacturer of medical devices wants to prolong the lives of those who have brain tumors.
Precision oncology, surgical innovation, and newly developed sophisticated materials are all combined in this technology. GRACE will be inserted during surgery to maximize patient safety and cost-effectiveness.
To make sure GRACE satisfies physician standards and melds easily with established patient treatment pathways, QV worked with some of the best neurosurgeons in the UK.
Pre-clinical testing is being done on QV Bioelectronics’ GRACE EFT implant. Their method attempts to kill cancer cells while sparing the brain’s healthy cells.
In a joint statement with the Fink Family Office, Dr. Jonathan Matlock, co-founder of Science Angel Syndicate, said: “We are thrilled to have led this investment round. The GRACE gadget Chris and Richard are creating is the epitome of deep science; it requires knowledge from several different fields and, when combined, might significantly improve outcomes for patients with brain tumors.
Dr. Johnathan said, “With this fundraising round, we are assisting Chris and Richard in taking a step toward the clinic and have prepared them to reach significant pre-clinical goals before a Series A round. We can’t wait to help Chris, Richard, and the rest of the QV team in their next stage of development.
Lord Stanley Fink commented, saying, “I am happy to be investing in QV bio’s most recent investment. This is a cause very important to my heart because I had a brain tumor more than ten years ago. I expect QV bio will help close the gap between the slow improvement in brain cancer survival rates over the previous ten years and the improvements in other malignancies.
QV Bioelectronics is an illustration of the cutting-edge start-ups from the north of England that Northern Gritstone is committed to assisting, according to Duncan Johnson, CEO of Northern Gritstone. Its cutting-edge medical technology has the potential to enhance the lives of millions of people with brain tumors. With this financing, the business will be one step closer to putting its findings into clinical trials.
Image Credit: QV Bioelectronics