Arterius, a pioneering Leeds-based producer of stents, is looking to scale-up its production and commercialise its products.
The company has developed ArterioSorb, a range of biodegradable coronary stents that can be absorbed by the body once their purpose has been fulfilled.
ArterioSorb has already undergone successful pre-clinical trials and Arterius plans to subject the range to First-In-Man (FIM) trials later this year.
The company, which currently employs 9 staff, is seeking a commercial partner for the expected launch of its products to market. It has secured two grants from Innovate UK for the FIM trials, while it has also received growth capital investment from Deepbridge Capital.
Arterius is backed by experts from the Industrial Research Centre in Polymer Engineering at Bradford University, Southampton University, and Bristol University, among others.
Arterius Chief Executive Dr Kadem Al-Lamee said: “Development funding and collaborations with the UK universities are enabling us to bring forward our ground-breaking research in the cardiovascular field for trial with a view to finding the right commercial partner. The opportunities are significant – we could help millions of patients across the world.
“We have grown significantly since we received grant funding from Innovate UK and others. This provides assurance to other potential investors.
“We can take products to clinical trial but when it comes to commercialisation we have to think carefully about licensing and finding the right partner. Our aim is to have CE-marked coronary products in the market by 2023.”