Medtech business gets grant boost from Innovate UK for brain treatment device
QV Bioelectronics has been awarded £860,000 by research funder Innovate UK to support the development of an implanted medical device to treat brain tumour patients, prior to clinical trials.
The grant funding, awarded under the Combined Investor Partnerships Award, follows a successful £2m fundraising completed in January 2023.
Innovate UK has now awarded QV, based at Alderley Park in Cheshire, a total of £1.8m from the Biomedical Catalyst Award and previous support from the National Institute for Health Research (NIHR) and Innovate UK SMART.
Named GRACE, QV’s revolutionary implant is currently in pre-clinical development and aims to divide cancer cells within the brain, without affecting healthy cells.
The technology strives to provide longer, better quality lives for brain cancer patients.
QV Bioelectronics is led and co-founded by biomedical engineer Dr Christopher Bullock, and Dr Richard Fu, a specialty registrar in neurosurgery and brain cancer researcher in the NHS.
Bullock said: “This award, alongside our latest funding round, will be instrumental in accelerating the development of GRACE. This technology has the potential to revolutionize cancer treatment, and we are thrilled to have Innovate UK’s backing as we work towards making a real difference in the lives of those affected by this devastating disease.”
The business also successfully completed a funding round in 2021, attracting support from Consilience Ventures, SOSV, Catapult Ventures and several angel investors.