New funding for nanoTherics

The Mercia Technology Seed Fund (MTSF), a leading provider of venture capital to early stage technology businesses in the West Midlands, has completed an initial investment in nanoTherics Ltd.

This scientific medical devices company was founded following cutting edge biomedical research conducted at Keele University and the University of Florida. It supplies scientific devices and associated products to research laboratories, both in the pharmaceutical and biotechnology industries and academia.

Early sales demonstrate a strong market appetite for its patented technology which uses nanoparticles and magnetic fields to facilitate delivery of important molecules, such as DNA, into living cells. The approach may lead to technology that can be used to treat genetic diseases such as cystic fibrosis.

As part of the investment package, Dr Linda Cammish has been appointed as advisor to the managementShe has held senior commercial positions at Millipore, Perseptive Biosystems, Applied Biosystems and Abcam plc. In association with this appointment, Dr Mark Payton (Fund Principal, MTSF) will join the nanoTherics Board.

Dr Neil Farrow, COO of nanoTherics, said: "We are delighted to be working alongside MTSF, a fund highly experienced in growing early stage technology companies such as nanoTherics. The experience they bring will be invaluable in enabling us to progress our novel gene transfection systems to full commercialisation."