Investment secured for AI-based IVF treatment business
Fertility treatment business Myma Medical, based at Sci-tech Daresbury, has secured further funding of £145,000 from innovation management consultants LYVA Labs, taking their total investment and grant leverage support from LYVA Labs to £779,000.
LYVA Labs invested £105,000 in Myma Medical in 2022, enabling the company to secure an Innovate UK SMART grant of £389,000 whilst creating a spin-out company from the University of Birmingham.
The company leveraged a further £140,000 Innovate UK Future Economy Investor Partnerships grant, with support from LYVA Labs.
Myma Medical’s chief executive Yash Khandhia said the investment will be used to progress new technology based on a new AI based high-definition vision camera system, quick and would “get the system ready for full clinical trial and to present it for regulatory approval before commercialisation.”
Myma Medical’s autoICSI system is a fertility treatment with a patented automated egg manipulation and sperm injection technology that minimises inconsistencies that are inherent in the manual process, significantly improving IVF success rates.
Lorna Green, chief executive of LYVA Labs, said: “Myma Medical are developing a technology that can bring about a step change in the success of fertility treatments and deliver real results for families across the UK.
“Myma Medical is the perfect example of combined authority investment funding working in tangent with national innovation funding, to support a start-up to commercialise their innovation and stimulate the regional economy.”
