Two months and £1.1m investment from Spark
£1.1m has been invested in follow-on funding for Merseyside and North West firms.
The manager of the North West Fund for Biomedical, Spark, has invested the money in the last two months taking total investments past the £25m mark.
Managed by Spark Impact out of Liverpool Science Park, the North West Fund for Biomedical is a sub-fund of The North West Fund; a £155m fund jointly financed by the European Regional Development Fund and the European Investment Bank.
Stuff of Life (trading name Secret Saviours) is a Merseyside-based firm and among the recent recipients of cash.
Recently, it has launched its anti-stretch mark underwear for pregnant women and has received a further £250,000 investment.
Meanwhile ESP Technology, based in Cheshire, has secured more than £150,000.
Microbiology specialist, Perfectus Biomed, based at Sci-Tech Daresbury, has raised a further £175,000 jointly from SPARK Impact and Midven.
This investment will allow the company to widen its sales and marketing reach. The company specialises in the testing of compounds and products designed to kill and inhibit biofilms.
Biofilms are clearly linked to chronic non-healing wounds, failed medical implants and catheter infections.
Dr Andy Round, investment director at Spark, said:
“We are delighted to continue to strengthen the life sciences sector within the North West by providing these promising companies with follow-on funding to continue their development.
“Funding like this is vital to these companies to give them the opportunity to continue to grow. The sector is ripe with innovative companies like these – what we need to see is continued support to allow them to really thrive.”