North West Biomedical Firms Receive Investment

Two biomedical companies, Alchemy Healthcare and Future Medical Technologies, are to each receive £50,000 from the North West Fund for Biomedical, reports pharmatimes.com.

The North West Fund is run by venture capital firm SPARK Impact and supplies debt and equity funding to small and medium sized businesses in the North West of England. Alchemy Healthcare has developed a nasal device for administering treatments in order to avoid injections. The investment they will receive will be used to “complete various elements of tooling and a modest clinical trial,” said Ian Harrison, the firm’s founder. They also hope to receive the results soon and receive further investment.

Future Medical Technologies has developed a polymer to mimic cartilage that is used to help arthritis, improving patient care. The investment will be used to speed development of the product and gain further regulatory approval. Dr Yousef Taktak has called the investment a “great opportunity.”

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