Achi news desk-
He observed that, overall, the global inhalable drug market was valued at approximately 33 billion dollars in 2023, with the nebulizer market worth more than a billion dollars. The funding round was led by SCVC, a UK venture capital firm that invests in early stage “deep tech” spin-off companies. It was supported by economic development agency Scottish Enterprise, Foresight WAE Technology, SIS Ventures, Ascension, and the EIS Conduit Impact Fund.
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Elijah Nazarzadeh, chief executive and co-founder of Nebu-Flow, said: “Basically, our technology provides new opportunities for targeted drug delivery to the lungs as well as drug delivery to the cardiovascular and nervous systems. central. We are engaging with a number of partners in the UK and North America who are currently trialling the product as we prepare for the regulatory approval stage.”
He added: “Our mission is to revolutionize the delivery of respiratory drugs. The investment accelerates our development activities to position the company for the delivery of RNA-based formulations. We now look forward to the final product development and commercialization stages, with the support of SCVC and our other investors.”
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Harry Destecroix, managing partner of SCVC, said: “We have been very impressed by the team’s achievement of its technical and commercial milestones to date, demonstrating their ability and readiness for the next step in healthcare innovation. This investment underlines our confidence in Nebu-Flow’s innovative nebulisation technology, which is poised to transform the way inhaled drugs are delivered, improve health and deliver impact.”
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Kerry Sharp, director of entrepreneurship and investment at taxpayer-backed Scottish Enterprise, said: “Scottish Enterprise has supported Nebu-Flow’s ambition to revolutionize respiratory drug provision over many years, being included in our ‘unlock ambition’ entrepreneurship program and feasibility grant. support all the way through to this investment, which in turn has helped unlock access to other major grant awards for the company.”
He added: “The human health sector is a key area of opportunity for growth in Scotland, with our academic capacity already ensuring first class success in the field. Companies like Nebu-Flow can play a vital role in transforming our economy by expanding, creating high value jobs and competing internationally. It has been fantastic to follow their journey from university spin-off to securing the investment needed to commercialize their technology, hopefully bringing benefits to respiratory patients around the world.”
Nebu-Flow noted that the chairman, John Pritchard, has more than 25 years of experience in the field, working in senior roles for GSK, AstraZeneca, 3M, and Philips.
