22 March 2018
Renephra Secures Investment from Deepbridge Capital and Catapult Ventures
Manchester UK, 21st March 2018 - Renephra, a medical device company, today announced that it has raised £231,000 from Deepbridge Capital and the GM&C Life Sciences Fund, managed by Catapult Ventures.
Renephra, spun out of The University of Manchester and Manchester University NHS Foundation Trust by UMI3 Ltd, is developing an innovative medical device to treat patients with chronic oedema and fluid overload. Renephra's Transdermal Fluid Removal (TFR) technology enables the extraction of excess fluid through the skin using disposable microneedle patches and overcomes many of the issues with current treatments.
The investment will enable Renephra to support a research study to demonstrate the feasibility of the technology in patients with severe oedema, including those with heart failure.
Dr Savvas Neophytou, Partner and Head of Life Sciences at Deepbridge Capital, commented: "Having initially provided seed-stage funding for Renephra via the Seed Enterprise Investment Scheme, we are pleased with the progress the team continues to make in developing their unique treatment. Our focus on continuity of capital is evidenced in being able to follow on in this round alongside new syndicate investors. Fluid overload can have catastrophic consequences in a number of serious medical conditions, including kidney disease and heart failure, and Renephra has the potential to revolutionise the treatment of these serious conditions".
Dr Gareth King, Life Science Partner with Catapult Ventures, said "We were attracted to Renephra by the clear clinical need for improved treatment options for heart failure patients with chronic oedema. Early clinical data on fluid extraction through the skin is tantalising and we look forward to the outcome of the research study for this unique treatment".
Dr Idalia Dawidowska, CEO of Renephra, said "I'm very pleased to have the continued support of Deepbridge Capital and welcome Catapult Ventures as a new investor in Renephra. I look forward to working closely with colleagues at Manchester University Foundation NHS Trust who continue the clinical evaluation of Transdermal Fluid Removal technology and to develop a much-improved treatment option to patients".
Renephra are continuing to raise equity investment through the Capital Cell specialist life science crowdfunding platform. More information is available at https://capitalcell.co.uk/campaign/renephra/
Photo L-R: Gareth King (Catapult Ventures), Ian Smith (Chairman, Renephra), Mark Rahn (MTI Ventures), Idalia Dawidowska (CEO, Renephra), Savvas Neophytou (Deepbridge Capital)