Mercia invests in innovative eye care company

HENLEY-in-Arden’s Mercia Fund Management (MFM) has committed £379,000 in seed funding to NuVision Biotherapies, a University of Nottingham spinout.

The firm develops eye care medical solutions for humans and animals.
 
The funding will support the commercialisation of NuVision’s product, Omnigen, a dry, amniotic membrane-derived biological bandage that can be used to treat ocular wounds caused by scratches, blisters and burns, as soon as they occur, as well as more long-term, non-healing persistent defects. 

Omnigen is produced using a pioneering manufacturing process called Tereo, which was developed by the ophthalmic team at The University of Nottingham.
 
Founded by Professor Harminder Dua, a world-renowned ophthalmologist with more than 43 years of clinical experience, and Dr Andrew Hopkinson, principle research fellow in academic ophthalmology, NuVision has harnessed the restorative and protective potential of amniotic membrane, the sac surrounding the baby during pregnancy, which is usually discarded at birth. 

Market demand for amnion products in the EU alone is valued at €48m per annum.
 
Omnigen, which is the result of 13 years of research, also supported by the British Ministry of Defence Science and Technology Laboratory, is said to have the potential to be widely used on a global scale, to save millions from blindness caused by injury to the cornea. 

Peter Dines, investment director and head of life sciences at Mercia Fund Management, said: “NuVision is the perfect example of the potential that university spinouts have in the UK – a great team, innovating research and a product set to revolutionise ophthalmic care worldwide are just a few of the reasons why we chose to back NuVision with seed funding. 

“We look forward to supporting them as they begin to commercialise Omnigen and the Tereo process.”
 
NuVision’s Hopkinson said: “We are grateful to Mercia for this investment, and we look forward especially to working with Peter Dines, who has extensive experience working with businesses in the life sciences sector.
 
“With a strong, experienced team, plus a pipeline of innovative products coming from The University of Nottingham, NuVision has endless potential for growth.”