QV Bioelectronics secures £735k in seed funding to advance its brain cancer treatment implant.
The oversubscribed round was backed by Consilience Ventures, SOSV, and Catapult Ventures to support the development of the GRACE device.
QV Bioelectronics develops surgical medical devices using electric field therapy to treat brain tumours. Its lead product is an implantable device aimed at glioblastoma.
QV Bioelectronics has closed a seed funding round of £735k to advance the development of its GRACE implant. The financing was secured from a syndicate including Consilience Ventures, SOSV, and the GM & Cheshire Life Sciences Fund, alongside several angel investors. The proceeds will be directed towards preparing the technology for clinical trials, expanding the team, and gathering preclinical data. This follows earlier funding that included equity and grants from Innovate UK and the National Institute for Health Research.
From the founder
"This investment is a vote of confidence in QV Bioelectronics from sector-expert investors. The funds raised will fuel the next phase of development of the GRACE device, allowing the size of the QV Bioelectronics team to grow in the process. This will take our innovative electric field therapy technology a few steps closer towards the clinic."
Christopher Bullock
CEO at QV Bioelectronics
Investor perspective
"We are excited to be supporting QV Bioelectronics advance an elegant and novel technology to help improve longevity and quality of life of GBM patients, an area of huge and longstanding unmet medical need."
Deepak Kotak
Board Member, Consilience Ventures
Use of funds
- 01Continue product development
- 02Grow the team
- 03Fund research and development
Investors
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About the company
QV Bioelectronics
QV Bioelectronics builds surgically implanted electric field therapy devices to treat brain tumours.