It was announced today that Cambridge Enterprise, the University of Cambridge commercialisation office has completed the first investment from its Discovery Fund into PneumaCare Limited.
Discovery Fund's first investment is into PneumaCare
Dr Maher Khaled, Cambridge Enterprise said: “We’re very excited that the first investment from the University of Cambridge Discovery Fund is helping to develop PneumaScan™ – an innovative product that will fulfil a great unmet medical need”.
The Discovery Fund was officially launched at the House of Lords on 14 May, 2009 and is the latest evergreen seed fund held by the University and managed by Cambridge Enterprise. The Discovery Fund is being capitalised through the University of Cambridge 800th Anniversary campaign.
Dr Gareth Roberts, Chief Executive said of PneumaCare’s first product, PneumaScan™, “monitoring breathing is a key medical requirement. It is impossible to monitor premature infants, children and chest injury victims accurately without invasive action such as tubes. Our product allows fast and non-invasive measurement of lung function. This is done through using a combination of technologies from the pc gaming and movie industry coupled with clever image processing. We believe the PneumaScan will make monitoring feasible, effective and simpler, leading to better patient recovery”.
Pneumacare is a result of a consortium which included Dr Joan Lasenby, Cambridge University Engineering Department, Dr Colin Smithers at Plextek Limited and Addenbrooke's Hospital, Cambridge. The Discovery Fund investment was made alongside the Cambridge Capital Group of business angels.
PneumaCare Limited www.pneumacare.com
PneumaCare is pioneering the development of non-invasive medical monitoring devices. PneumaCare was founded by Cambridge entrepreneurs and medical professionals to harness the networks and knowledge base in Cambridge to develop new approaches to
improving medical care. PneumaCare works in partnership with Addenbrookes Hospital (Cambridge) Dept Engineering Cambridge University and Plextek Ltd (Great Chesterford).
Together we are driving the development of non-invasive lung function measuring and monitoring as our first products.
Contact: Gareth Roberts firstname.lastname@example.org
Cambridge Enterprise Limited, University of Cambridge www.enterprise.cam.ac.uk
Cambridge Enterprise Limited is a wholly owned subsidiary of the University of Cambridge, responsible for the commercialisation of University intellectual property. Activities include management and licensing of intellectual property and patents, proof of concept funding and support for University staff and research groups wishing to provide expert advice or facilities to public and private sector organisations. Cambridge Enterprise provides access to angel and early stage capital through the Cambridge Enterprise Seed Funds and Cambridge Enterprise Venture Partners, and offers business planning, mentoring, specialist Surgeries and other related programmes.
The University leads the world in transformative research and Cambridge Enterprise is well placed to support the academics to find the best commercialisation route for their innovations either through licensing or company creation. In 2007/08 income from licensing, consultancy and equity transactions exceeded £10 million, of which £8 million represents distributions to University departments and academics.
Contact: Shirley Jamieson
Head of Marketing
Cambridge Enterprise Limited
Tel: 01223 760 339
Cambridge Enterprise exists to help University of Cambridge inventors, innovators and entrepreneurs make their ideas and concepts more commercially successful for the benefit of society, the UK economy, the inventors and the University.