NVM Private Equity has invested £1m of growth capital into Cambridge-based medical device company Ablatus Therapeutics alongside existing angel investors.
The NVM investment will support the company through the next stage of commercialisation, including ongoing product development. It was accompanied by funding from the MedTech Accelerator, InnovateUK and the angel community.
Ablatus was founded in 2016 as a spin out from the NHS, under the guidance of Health Enterprise East (HEE). It was created to develop and commercialise patented Bimodal Electric Tissue Ablation
(BETA) technology. The Ablatus technology was originally developed by clinicians in the Norfolk and Norwich University Hospitals NHS Foundation Trust (the Trust), who identified a novel way to address some of the issues with radiofrequency ablation.
Dr David Brooks, CEO of Ablatus said: “BETA has shown excellent R&D results in preclinical testing. We now plan to complete the development of BETA as a medical device for clinical trials, regulatory approval and market launch. The investment from NVM complements the generous support we receive from Innovate UK in order to complete BETA development and to grow the Ablatus team. We look forward to working with NVM to bring BETA to the market and to offer new treatment options to patients.”
Jason Warren, Investment Associate of NVM Private Equity said: “We have been impressed with the progress Ablatus has made alongside Health Enterprise East in commercialising an exciting medical invention, and it serves to demonstrate the strength of innovation within the NHS. The bimodal technology they are developing represents a novel approach to addressing some of the issues with radio frequency ablation and we are looking forward to supporting David in the next phase of the journey.”