“Medibord has an exciting, innovative product which fills a clear market need." Lucy P. Marcus, Chairman of the Mobius Life Sciences Fund
(PRWEB) August 9, 2010
Mobius Life Sciences Fund has announced a £75,000 investment in Medibord™ Ltd, an award-winning medical technology company that designs and manufactures patient positioning boards for use in MRI scanners and radiotherapy treatments.
Based in BioCity Nottingham, Medibord™ Ltd’s first product is a radio-translucent, MR compatible composite which was developed in response to oncologists’ need for greater treatment accuracy, especially for prostate cancer. With positive feedback from UK users, the company is planning to expand sales into the Middle East, followed by the United States and European markets.
Chairman of the Mobius Life Sciences Fund, Lucy P. Marcus, who will join the Medibord™ Ltd board as a non-executive Director says: “Medibord has an exciting, innovative product which fills a clear market need. The company has ambitious plans for growth, a strong and committed management team and a clear path for developing further products to meet their market: all hallmarks of the type of venture Mobius Life Sciences wants to invest in.”
Medibord™ CEO Jonathan Richards adds: “With their expertise, contacts and medical sector knowledge, Mobius Life Sciences will bring more than money to Medibord. Mobius Life Sciences will help build our credibility and bolster our ability to move further and faster with our research and development, and will enable us to look beyond the UK market much sooner than we anticipated.”
The investment in Medibord is in the form of equity and debt, with the debt component being provided through Mobius Life Science’s collaboration with Nottingham City Council.
Louise Third, Integra Communications
T: 0115 912 4350 / 07773 288342
Mobius Life Sciences Fund
The Mobius Life Sciences Fund is the first investment fund in the Midlands region dedicated to the life sciences sector. It is operated by a subsidiary of BioCity Nottingham Limited and receives its investment funds directly from BioCity.
Mobius provides seed level equity investment into early stage bioscience, pharmaceutical, medical technology and healthcare businesses.
The Fund leverages this early stage investment through a collaboration with Nottingham City Council, which provides unsecured loan finance to investees, and by supporting businesses to use the investment to match against grant and other funding.
Mobius adds further value to investee companies by taking a seat on the Board of Directors and using an extensive industry network to access advice and support to the business.
Mobius will also co-invest alongside other early stage investors, including business angels, and will act as a feeder to later stage funds.
BioCity Nottingham Ltd was launched in 2003. The company develops and operates bioscience and healthcare-related incubation and innovation facilities. The first facility opened in September 2003, and Phase 3 in the form of grow-on space, opened in October 2008. BioCity is currently home to 66 fast-growing companies, including R&D and business support services.
BioCity was founded by Nottingham Trent University, the University of Nottingham and East Midlands Development Agency.
Medibord Ltd was formed in November 2009 to commercialise developments in the use of thermoplastic composites in the Medical Sector concentrating on radiology and radiotherapy devices to aid in the diagnosis and treatment of cancer. It offers sustainable materials to fulfil existing needs and aims to promote the use of its materials into new medical applications such as patient transfer and trauma boards.
The Medibord™ has global markets and is already used in the NHS.