A fertility treatment and women’s health company has raised almost £4 million in funding.
VivoPlex Group Ltd, based at Milton Park near Oxford, which is transforming fertility treatment and women’s health via intra-uterine sensing, has raised £3.9 million in its Clinical Stage financing round. The funds, which were raised in two tranches, will be used to complete the first clinical feasibility study of its wireless battery-free uterine sensor system. The study is expected to generate key clinical data to support European approval (CE marking) for the company’s first product.
The Future Fund participated in the second tranche of the fundraising alongside other investors, unlocking matched financing and helping to drive the business forward towards commercialisation. Developed by the Government and delivered by the British Business Bank, the Future Fund supports high potential innovative businesses in the UK currently affected by Covid-19.
In line with other medical device and pharmaceutical companies, the clinical feasibility study will start as soon as practicably possible after capacity becomes available post the COVID-19 lockdown.
Joanna Smart, CEO of VivoPlex, said ‘The close of our Clinical Stage funding round enables us to continue development of our intra-uterine sensor platform and bring our first product to market, and we would like to thank all our supporters, including the Future Fund. The field of women’s health needs better tools to support evidence-based clinical decisions and we at VivoPlex are excited to have developed a technology that can provide valuable insights to doctors.’