Ablatus Therapeutics raises £500k to develop advanced cancer treatment technology
The funding round was led by Anglia Capital Group alongside the New Anglia Local Enterprise Partnership and the Low Carbon Innovation Fund.
Share allotment filed at Companies House
Ablatus Therapeutics is a medical technology company and spinout from the Norfolk and Norwich Hospital developing advanced tumour ablation treatments. Its proprietary Bimodal Electric Tissue Ablation technology uses alternating and direct current to improve cancer surgery outcomes.
Ablatus Therapeutics has secured £500k in a funding round closed in May, backed by a syndicate of angel investors and regional funds. The investment was led by members of Anglia Capital Group, with matching participation from the New Anglia Local Enterprise Partnership and the Low Carbon Innovation Fund.
The capital will be directed towards advancing the development of the company's core technology. The funding supports ongoing work on Bimodal Electric Tissue Ablation, a surgical technique designed to improve upon standard radiofrequency ablation by reducing tissue charring and tumour recurrence.
The technology originates from research conducted at the Norfolk and Norwich Hospital, which maintains an equity holding in the business. The latest injection of capital aims to help bring the pioneering treatment closer to clinical application.
Investor perspective
"Anglia Capital Group is delighted to have had the opportunity to work with Health Enterprise East on the first spinout from the Norfolk and Norwich Hospital. Our members led the investment round because of the exciting potential for this technology in cancer surgery and were strongly supported by matching investment from our partner, the New Anglia Local Enterprise Partnership."
Struan McDougall
CEO, Anglia Capital Group
Use of funds
- 01Continue product development
Investors
Struan McDougall
Anglia Capital Group
Chris Dashper
New Anglia Local Enterprise Partnership
Low Carbon Innovation Fund
Categories
About the company
Ablatus Therapeutics
Ablatus Therapeutics develops advanced medical technology for treating tumours.