Gelexir Healthcare raises £414k to advance clinical studies for its back pain treatment
The Greater Manchester spinout secured the capital from backers including The North West Fund for Biomedical and Central Manchester Foundation Trust to fund pre-clinical trials.
A University of Manchester spinout that has developed an injectable hydrogel designed to relieve back pain and potentially replace invasive surgery.
Gelexir Healthcare has secured £414k in the first close of its current £950k funding round, supported by the Co Angel Investment service. The capital will enable the medical technology firm to advance through pre-clinical trials and progress toward initial human clinical studies. Participants in the financing include The North West Fund for Biomedical, Central Manchester Foundation Trust, and various angel investors.
The company is developing a novel hydrogel treatment intended to restore normal disk function and eliminate the necessity for invasive spinal surgery. This fresh injection of capital marks a key milestone for the Manchester-based business as it prepares for broader clinical evaluation. The broader funding initiative continues with ongoing assistance from the Greater Manchester-backed platform.
From the founder
"The team at Co have been instrumental as part of the process to date in giving strong and impartial advice, providing us links to potential investors, and generally supporting us in the fund raising process. The team have been brilliant in preparing us for investment, supporting angel investors with their due diligence scoping and execution and approaching institutional investors. We are looking forward to continuing our excellent working relationship with the Co Angel team to complete this current round of funding"
Hans von Celsing
Executive Director at Gelexir Healthcare
Use of funds
- 01Fund research and development
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About the company
Gelexir Healthcare
Gelexir Healthcare creates an injectable hydrogel to treat chronic back pain.