MediSieve, the team behind an innovative new blood filtration device, has announced the company has received over £1.75m in funding.
The cash influx has come from a mix of both old and new investors – reflecting the growing confidence in the potential of the device.
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
The company is best known for its magnetic blood filtration technology, a revolutionary 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 its director, Marek Gumienny, joining the board of MediSieve as a non-executive director.
This investment will contribute greatly to the further research and development of the company, providing a strong potential partner and source of capital to the company for the future.
Dr George Frodsham, founder and chief executive 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.”
Gumienny added: “MediSieve is an excellent example of the type of businesses 24Haymarket is proud to back.
The best investors bring more than just funds and I am very excited to have them join us on the journey
“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 rapid period of growth, they have relocated operations to new offices and laboratories at the Imperial College London Translation & Innovation Hub (I-HUB).