MediSieve, the company behind an innovative blood filtration device, has announced it has received more than £1.75 million in funding.
The cash influx has come from a mix of both old and new investors. The medical device company is best known for its magnetic blood filtration technology, a new approach to targeting blood-borne diseases by magnetically filtering specific disease-causing components from the bloodstream. The device is being tested for the treatment of Malaria, Sepsis and Leukaemia.
As part of the latest funding round the private capital network 24Haymarket invested £632,000 with Marek Gumienny (Director of 24Haymarket) joining the board of MediSieve as a non-executive director.
Dr George Frodsham, founder and CEO of MediSieve, said: "This investment represents a watershed moment for MediSieve, and gives us the resources required to move forward with our product development and commercialisation over the coming years. We are very pleased to have found investors who will be actively involved in supporting the company as we grow, and who share our vision of a future where we can provide doctors with the ability to clean a patient's blood and treat a variety of blood-borne diseases. The best investors bring more than just funds, and I am very excited to have them join us on the journey. This is going to be a very exiting period of growth and development for MediSieve.”
Commenting on the investment, Marek Gumienny at 24Haymarket said: “MediSieve is an excellent example of the type of businesses 24Haymarket is proud to back. We have an outstanding founder and entrepreneur in George Frodsham and potentially a global game changer in the treatment of such devastating diseases such as malaria and sepsis.”
As part of the team’s period of growth, it has relocated operations to new offices and laboratories at the Imperial College London Translation & Innovation Hub (I-HUB). This suite of biotech-focused facilities and projects is part of the institution's facilities and support for science companies and its research.
The company says the move has hugely increased its research and development capability as on-site access to high-tech and well-equipped laboratories mean that they are working much quicker and cost-effectively.
MediSieve describes its vision for the future of healthcare as: "A world where doctors are able to target and remove infected cells, pathogens, toxins, or even viruses directly from a patient’s bloodstream. The ability to precisely extract unwanted disease-causing substances in this way would revolutionise the treatment of deadly blood-borne diseases, benefiting patients and clinicians around the world."