ScubaTx has raised £1.4 million to continue developing its transformative organ preservation device after expanding in the North West of England.
The funding round – led by the GMC Life Sciences Fund By Praetura, which is managed by Praetura Ventures – follows a sustained period of growth for Newcastle-founded ScubaTx.
It has just opened a new office at Manchester Science Park to complement its design and engineering, pre-clinical trial work and further engagement with future commercial partners and key opinion leaders, including in the US, where it is garnering increasing interest.
Led by CEO David Campbell and founded by the company’s CSO Dr Bill Scott, ScubaTx uses a process called ‘persufflation’ to cool donated organs and oxygenate tissues with humidified gas at tightly controlled pressures and flow rates, extending an organ’s viability for significantly longer.
Following this latest funding round, ScubaTx has also doubled in size, appointing six new staff with hires from Greater Manchester, Cheshire and the surrounding areas to bolster its specialist team.
These new hires are focused on building capabilities across operational, quality assurance and regulatory affairs, mechanical, electrical and software engineering.
Alongside these recent hires, the new office on the Oxford Road Corridor, in the heart of Manchester’s innovation district, will allow the 12-strong team to draw on the wealth of experience in medical devices, software development and complex system engineering from across the region.
“Although our device may be a new concept to many, it’s been built from an established process with a long scientific history, providing a rich basis for us as we push the technique to new applications,” said Campbell.
“Our new office at Manchester Science Park represents a real milestone, as we’ve transitioned from an entirely virtual company, to one with footholds across the North. While our pre-clinical and basic scientific research will continue from our Newcastle base, we’re excited to apply the local expertise and resources of Manchester’s rich life sciences innovation heritage to ScubaTx.”
Sim Singh-Landa, investment director at Praetura Ventures and head of the GMC Life Sciences Fund By Praetura, said: “This latest round of funding follows an exciting period of progression for ScubaTx, enabling the business to accelerate its goal to revolutionise the organ transplantation process, increasing the number of donated organs successfully reaching recipients.
“This significant innovation could have a tangible impact for transplant patients across the globe, saving countless lives, accelerating a better quality of life and reducing the burden on health systems from the growing number of patients on waiting lists.”
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