BiOxyDyn Ltd, a Manchester Science Park-based advanced medical imaging company, has secured £1.2m investment.
Backers include The North West Fund for Biomedical, managed by SPARK Impact, and MTI Ventures‘ UMIP Premier Fund (UPF).
The company intends to use the funding to expand its imaging service business and develop its technology into a diagnostic product.
Founded by Prof. Geoff Parker as a spin out from the University of Manchester and of UMIP’s Proof of Principle (PoP) programme, BiOxyDyn has developed technology used in conjunction with an MRI scan to produce better quality images, particularly of the lungs (lung diseases such as chronic obstructive pulmonary disease, COPD, and asthma. The company is also active in the development of new imaging tools for oncology and neuroscience.
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FinSMEs
04/10/2012