Medical device specialist Nebu-Flow has secured £1.7m in an oversubscribed funding round led by Foresight Group, aimed at furthering the commercialisation and delivery of their next-generation respiratory pharmaceuticals.
The money will be used to further commercialise its nebuliser device. A nebuliser is a machine that turns liquid medicine into a fine mist. You then breathe in the mist through a mask or mouthpiece.
The Glasgow-headquartered company also received backing from Science Creates Ventures, Ascension Life Science Fund and SIS Ventures, with the money set to be used to further the commercialisation and delivery of respiratory pharmaceuticals.
Nebu-Flow’s nebuliser device has been developed to provide a number of advantages over existing technologies in a global market valued at more than $1bn.
The company was co-founded by chief executive Dr Elijah Nazarzadeh to address the challenges in drug delivery for respiratory disorders, which are one of the main causes of death and disability worldwide.
The company believes its technology could also potentially help deliver treatment in areas such as gene therapy, while improving outcomes for patients with life limiting conditions such as cystic fibrosis and chronic obstructive pulmonary disease.
Nazarzadeh led research into the development and commercialisation of nebuliser technology at the University of Glasgow, before founding Nebu-Flow as a spin-out company in 2019.
He said: “Our technology enables efficient respiratory delivery of a wider range of drugs that are hard to nebulise – many of these drugs, like biologics, are potentially life-saving – so we are pleased to have the support of Foresight and our other investors, whose ambitions for the business are very much aligned with our own.”
Dr John Pritchard was recently appointed as Nebu-Flow’s chair. He brings more than 25 years’ of experience, having worked with GSK, AstraZeneca and Philips, where he was involved in the delivery of multiple products to market.
He added: “Elijah leads a highly motivated team developing pioneering technology, positioned to make a significant impact in global markets, and I look forward to continuing to guide and support the company as it enters its next phase of growth.”