NuVision secures £1.1m from existing backers to accelerate product development
The Nottingham-based eye care specialist raised the capital from investors including Mercia, Pioneer Group, and the University of Nottingham.
Nottingham-based NuVision develops advanced wound dressings and contact lenses derived from placental tissue to treat ocular surface injuries.
NuVision has secured £1.1m in funding from its existing backers to accelerate product development ahead of a Series A round. The capital comes from participants including Mercia, Pioneer Group, and the University of Nottingham.
The company produces biological wound dressings and contact lenses used within NHS hospitals and private clinics to manage eye conditions and soft tissue damage. This latest injection brings total funds raised by the firm to more than £5m.
The enterprise will direct the fresh resources towards advancing its initial two product lines, supporting commercial scaling before a planned financing event later in the year.
From the founder
"We are delighted to receive further support from our existing investors. This investment round is an endorsement of our innovative new therapies for ocular care and our commitment to developing a rapid and accessible treatment for the ocular injury. The next stage of development is the scaling of our commercial and operational capabilities ahead of a planned Series A round in late 2023 or early 2024,"
Andy Hill
CEO at NuVision
Use of funds
- 01Continue product development
- 02Scale operations
