NPIF invests £250,000 in sensor design company
NanoFlex, a sensor design company based at the Sci-Tech Daresbury science campus, has secured £250,000 from the Northern Powerhouse Investment Fund (NPIF).
The company makes patented diagnostic sensor technology and will use the money to create new business opportunities for the tech with the aim of developing a pipeline of products.
The investment comes from NPIF – Maven Equity Finance, which is part of the NPIF. The fund is overseen by MSIF working with Maven in the Liverpool City Region.
The aim is for the technology to be used within the healthcare & fitness and well-being markets.
The company, which is already conducting some work with Alder Hey hospital, also believes its technology has the potential to be used as a monitoring tool in the wound-care market and for the monitoring of sepsis.
"We have integrated our enabling technology into customer's products for the healthcare market," said NanoFlex CEO Neville Freeman.
“We expect the first volume manufactured products to reach the market Q1/Q2 2018.
"We are very excited to receive this funding as it will enable us to accelerate the rollout of our technology and we expect to see more devices featuring NanoFlex innovation in the near future."
Andy Round, MSIF investment director who handled the investment on behalf of Maven, said: "We are delighted to be able to support NanoFlex and allow them to continue working on further developing their diagnostic sensor technology.
“The technology they are working on could have a massive impact on our health sector, so I'm excited to see what Neville and the team design in the near future."
The NPIF project is supported by the EU through funding from the European Regional Development Fund. This is part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.