29 June 2023
CPI Enterprises to help fund innovative medical device for brain tumours
CPI Enterprises have invested in a medical device which could dramatically increase long-term survival for people with the most common and aggressive type of brain tumours. This is CPI Enterprises’ ninth investment and fourth in the last 12 months.
QV Bioelectronics, based at Alderley Park, is developing a first of its kind implanted Electric Field Therapy (EFT) called GRACE, which delivers electrical fields at specific frequencies to interrupt cancer cell division.
For their first indication, QV Bioelectronics will be targeting glioblastoma, which has some of the worst clinical outcomes of any cancer, with a five-year survival rate of 3%. This is despite intensive current treatment that includes chemotherapy, radiotherapy and surgery.
GRACE will be implanted during the existing surgery, fitting elegantly into the current treatment pathway. From here is will deliver continuous treatment with the aim of prolonging patient life expectancy. If successful, the device would represent a major breakthrough in the treatment of glioblastoma.
CPI’s HealthTech team is working with QV Bioelectronics on their technology to ensure the advanced materials can safely deliver the best treatment possible for patients, without impacting patient quality of life.
QV Bioelectronics were previously named Regional Winners for the North of England as part of the Super Connect for Good competition and National Winners for the MedTech category. More recently they were selected for the inaugural accelerator Innovate UK Global Programme at Texas Medical Center’s Innovation Factory which helps UK companies build, scale, and expand in the US market.
Ian Smith, Head of Investor Partnerships at CPI Enterprises, said: “We originally met with Chris in 2021 where we saw the potential in the management team, vision and alignment to CPI’s capabilities. After a conversation, CPI we’re perfect example of how CPI works with SMEs through their innovation journey. We began working with QV in the development of the device on the brain process and we’re continuing our journey together by supporting them.
“I’m delighted CPI is able to extend our investor relationship with QV by collaborating with the company to scale-up new technology that will create a novel life science technology in the brain tumour sector. It’s fantastic that the impact of this technology and QVs’ high growth potential has also been recognised by CPI Enterprises with this investment.’’
Hannah Wade, Managing Director of CPI Enterprises said: “QV Bioelectronics are developing a product which has the potential to make a huge difference to people affected by brain tumours, improving their chances of long-term survival and their quality of life throughout their treatment. This product could represent a huge breakthrough because there have been no successful stage 3 clinical trials on new products for over 20 years. We believe this product has the potential to do just that, and that’s why we have invested in this potentially ground-breaking treatment.
“CPI has worked in collaboration with the business on several projects to accelerate their innovation journey. Chris and the management team have built an impressive business and we are delighted to support the business as it enters a new phase of growth.”
Chris Bullock, Chief Executive Officer at QV Bioelectronics, said: “At QV Bioelectronics, we are striving to deliver longer, better quality lives for brain tumour patients. Our technology aims to help address an unmet clinical need for people suffering with glioblastoma. The GRACE implant aims to significantly extend the life expectancy of patients without impacting quality of life.
“Developing new treatments and therapies is costly, and in order to get innovative products to market we need a collaborative effort. As such, we are delighted that CPI, as a world leader in innovation, has joined our other high-quality investors to further accelerate our commercial and technology traction.”