Cambridgeshire based impact venture LIFNano have been awarded £1m funding by Innovate UK in the Biomedical Catalyst competition, 2016.
Innovative Multiple Sclerosis treatment receives £1m funding boost
LIFNanoRx promises a new generation of treatments for currently untreatable diseases using simple and clean technology.
The funding will support their early stage project, titled: CELL-FREE REGENERATIVE MEDICINE: Nano-Engineered “LIFNano” to treat Multiple Sclerosis.
Founded by Su Metcalfe in 2013 as a spin-out from the University of Cambridge, the LIFNanoRx product is an elegant solution to treat Multiple Sclerosis: it exploits the body’s own repair pathways by precise targeting of LIF to the treatment site. Moreover, since the LIF nanoparticles can be manufactured in bulk and stored until required, global access to therapy becomes possible, in marked contrast to to the relatively expensive, globally restricted and specialised cell-based therapies currently being developed to treat MS.
Paul Hughes, Head of Venture Development at Serious Impact, has worked closely with Su and the team for the past 18 months, he said: ‘We’re so proud to work with such an innovative project, and such a passionate team. The potential impact of this breakthrough in medical treatment is amazing and the funding from Innovate UK will help them advance the development of the treatment.’
The impact venture was originally supported by Social Incubator East, now Cambridge Social Ventures, based at Allia Future Business Centre Cambridge.
Learn more about LIFNano here.
Learn more about Innovate UK here.
Learn more about free venture support from Serious Impact here.
Su Metcalfe was recently featured in our 6 Inspiring Women in STEM article for Ada Lovelace Day; see who else made the list here.
Allia is a not-for-profit organisation that supports businesses - through flexible workspace, social finance and free business support - so that they can grow and create positive impact, on their communities and on the planet.