Medtech startup VascVersa, a spin out from Queen’s University, Belfast, has closed an investment round through which it has raised a six-figure sum. The funding will enable the company to proceed with the development of its technology, which aims to repair damage to blood vessels and is initially being targeted at patients with non-healing wounds.
The company’s treatment focuses on vascular regeneration and it is developing technology designed to stimulate the formation of new blood vessels. It is hoped that the treatment will help to improve blood supply and recovery in patients.
VascVersa CEO Christina O’Neill said the new funding represented a “significant step” for the firm as it looks to develop and market its technology. Queen’s University’s spin-out investment vehicle QUBIS led the funding round, with government-backed Co-Fund NI and the Halo Business Angel network also participating.
O’Neill commented: “I’d like to extend my gratitude to QUBIS in leading the investment round, and to the commercialisation team at Queen’s for their invaluable support throughout VascVersa’s development. The funding support from Co-Fund and HBAN has also been invaluable in helping raise a considerable figure in our first round of funding.”
QUBIS Investment Manager David Moore said: “It has been really encouraging to see VascVersa’s achievements since their market discovery journey on the Innovate UK ICURe programme and their success as Regional Finalists at the Intertrade Ireland Seedcorn competition last year. These new appointments and seed funding success are welcomed milestones for the team and we look forward to seeing their future successes.”
VascVersa has also appointed Roslin Cells and Censo Biotechnologies CEO Aidan Courtney as its new Chairman.