Ablatus is treated to $648,000
UK government-created and EU-backed institutions support Ablatus Therapeutics in its $648,000 round to commercialise a potential treatment for solid cancer tumours.
Ablatus Therapeutics, a UK-based medical device spinout from Norfold and Norwich University Hospitals NHS Foundation Trust, has raised £500,000 ($648,000) from a consortium including the Low Carbon Innovation Fund.
The Low Carbon Innovation Fund, an EU-backed vehicle that provides equity funding to small and medium-sized enterprises in the east of England, was joined by Anglia Capital Group and the government-created public, private and education sector collaboration New Anglia Local Enterprise Partnership.
Norfold and Norwich University Hospitals NHS Foundation Trust is made up of the Norfolk and Norwich University Hospital and Cromer and District Hospital. Ablatus Therapeutics spun out from this institution with the help of NHS Innovation Hub Health Enterprise East.
Ablatus Therapeutics was created to develop and commercialise a technology called Bimodal Electric Tissue Ablation (Beta) that has the potential to treat solid cancer tumours.
The funding will go towards continued development of the technology and help the terapy gain a CE mark, the European conformity mark. Ablatus will also use the funding to move towards human trials at the Norfolk and Norwich University Hospitals NHS Foundation Trust.
Anne Blackwood, Chief Executive at Health Enterprise East, said: “We are delighted to have been involved in the early stage funding and commercialisation of such an exciting technology, especially as it shows every potential to revolutionise how certain cancers are treated.
“Health Enterprise East is looking forward to continuing its support as Albatus Therapeutics develops as a company and brings Beta closer to helping patients.