Medical device specialist Nebu-Flow has secured £1.7m in an oversubscribed funding round led by Foresight Williams Technology, a joint venture between Foresight and Williams Advanced Engineering.
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.
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.”
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