Funding helps shed light on medical research
A pioneering new technology has been given a cash boost to light the way for a number of revolutionary medical treatments.
Biotransformations, located at the Centre for Life in Newcastle, UK, has developed the first medical process that uses light to stimulate the body's immune responses to help fight diseases. The aim is to strengthen the management team in preparation for a financing round, advance this product into clinical trials and develop a commercial basis for the company's future development, the firm has received a cash injection of L90,000 ($164,900) from the Proof of Concept (POC) fund, managed by North Star Equity Investors.
This investment builds on a L500,000 project with the Centre for Excellence in Life Sciences (CELS), completed in March 2006, to advance the technology behind this new process.
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