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Manchester-based medical device startup raises £2M to extend lives of patients with brain tumours

QV Bioelectronics

A new wave of bioelectronic medicine is transforming how we treat illness, tackling everything from cancer and Crohn’s disease to diabetes and arthritis. Implantable bioelectronics, which combines the use of cutting-edge materials and interdisciplinary science, is at the forefront of emerging healthcare technology.

Now QV Bioelectronics, a Manchester-based medical device startup developing the first-of-its-kind electric field therapy implant to treat the most common and aggressive types of brain tumours, and has secured £2M in Pre-Series A funding from new and existing leading deep tech investors. Northern Gritstone, Elbow Beach Capital, and existing investors SOSV and Catapult Ventures joined the round, which was led by the Bristol-based Science Angel Syndicate and London-based VC Fink Family Office.

The company will use the funding to support expanded pre-clinical studies to evaluate the GRACE implant’s safety and efficacy, as well as the completion of device design prior to entering the clinical phase of development. The funds will also be used to support a variety of other activities aimed at ensuring future commercial and regulatory success.

Commenting, Dr Richard Fu (Clinical Director and Co-founder) and Dr Chris Bullock (Co-founder & CEO) said: “Ultimately, we at QV are driven by the challenge to make a meaningful difference to the lives of brain cancer patients around the world. It is our aspiration that GRACE will optimise the treatment effects of electric field therapy, whilst working synergistically alongside other existing and emerging cancer treatments. We are grateful for the belief and support from our new and existing investors and look forwards to working with them and our other partners as we take the next significant steps toward fulfilling this goal.”

QV Bioelectronics is led and co-founded by biomedical engineer Dr Christopher Bullock (CEO), and Dr Richard Fu, a specialty registrar in neurosurgery and brain cancer researcher in the U.K.’s National Health Service (NHS). Further, it is supported by a knowledgeable group of engineers and scientists who have been closely collaborating with some of the top neurosurgeons in the UK on the GRACE device’s prototype design.Thw Manchester-based medical device company aims to extend the lives of patients with brain tumours.

GRACE for cancer

The technology combines precision oncology, surgical innovation, and emerging advanced materials. In order to maximise patient safety and financial efficiency, GRACE will be implanted during surgery. For GRACE, QV has collaborated with some of the top neurosurgeons in the United Kingdom to ensure the product meets clinician requirements and integrates seamlessly with current patient treatment pathways.

The GRACE EFT implant from QV Bioelectronics is presently undergoing pre-clinical testing. Their technology aims to target dividing cancer cells without harming healthy cells in the brain.

Dr Johnathan Matlock, co-founder, Science Angel Syndicate said: “We are delighted to have led this investment round alongside the Fink Family Office. The GRACE device that Chris and Richard are developing is the definition of deep science, requiring expertise across multiple disciplines, that when brought together could dramatically improve outcomes for patients with brain tumours. With this funding round we are helping Chris and Richard move one step closer to the clinic and have set them up to achieve important pre-clinical milestones ahead of a Series A round. We are excited to support Chris, Richard and the wider QV team during the next phase of their development.”

Commenting, Lord Stanley Fink said: “I am thrilled to be investing in QV bio’s latest round. Having suffered from a brain tumour over a decade ago, this is a cause extremely close to my heart. There has been limited progress in brain cancer survival rates over the past decade when compared to the advances in other cancers and I hope QV bio will help bridge this gap.” 

Additionally, Duncan Johnson, CEO, Northern Gritstone, said: “QV Bioelectronics is an example of the pioneering start-ups from the north of England that Northern Gritstone is dedicated to supporting. Its medical devices are at the vanguard of innovation with the potential to improve the lives of millions of people with brain tumours. This investment takes the company one step closer to clinical trials and making its research a reality.” 

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