Support from university deal
Dialysis pioneers tap new fund for £500,000
Invizius team: (left to right) CEO Richard Boyd, CTO Dr Andy Herbert and scientists Dr Eliza Makou and Dr Sunay Chankeshwara
A spinout company whose technology could save the lives of thousands of dialysis patients has secured £500,000 from a new partnership between a funding firm and Edinburgh university.
The backing for Invizius is the first investment deal since Mercia Fund Managers signed an agreement with the university in November.
Invizius emerged from years of research by biologist Dr Andy Herbert and his team, who believe they have found a way to reduce the risk of cardiovascular disease among patients undergoing long-term dialysis.
The investment will allow the company to build its team and take the product to the next stage of development in preparation for clinical trials.
Invizius is led by CEO Richard Boyd, who previously founded VueKlar Cardiovascular, with Dr Herbert as CTO.
The team has spent six years developing the technology with support from world-leading dialysis manufacturers, Kidney Research UK, and £600,000 from Scottish Enterprise’s High Growth Spin Out Programme.
Edinburgh Innovations, which manages industry engagement for the University of Edinburgh, has supported the researchers throughout the commercialisation process, which started with its scientific findings and included the recent launch of the spinout company.
Mr Boyd said: “We are very pleased to welcome Mercia as an investor. Their ability to back and help develop life science businesses from the point of spinout through to commercialisation makes them an ideal partner for Invizius.”
Dr Nicola Broughton, head of universities at Mercia, said: “Invizius builds on the world-class research carried out at the University of Edinburgh and is an excellent choice for our first investment under our partnership with the University.
“This technology could revolutionise kidney dialysis and, with 3 million patients worldwide, has the potential to save countless lives. The funding will take the company one step closer to bringing it to market.”
Dr George Baxter, Chief Executive of Edinburgh Innovations, said it was a “perfect example of how partnerships can enhance the University’s impact”.
Morton Fraser provided legal advice to Mercia on the investment while MBM advised the company.