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Curapel (Scotland) Limited, the creator of a range of revolutionary and patented skin care technologies has received £200,000, the first tranche of a potential £350,000 investment, of private equity funding from Glasgow-based Lancaster Capital. The spin-out is based on award-winning translational research originating from the Faculty of Medicine. It will use the financial backing provided by Lancaster to reach key milestones on the path towards clinical trials, consumer studies and commercialisation. Commenting on the receipt of the funding, Dr Neil Gibbs and Dr Cath O'Neill, the joint founders of Curapel and finalists for the 'Commercial Innovator of the Year, 2014' said: "We're delighted to have received this initial funding, which will enable Curapel to progress its technology and products towards partnering and the commercialisation of new, safe and effective treatment for patients." Curapel's technologies are targeted at the large, unmet clinical need within the dermatology and the wider skin care sector for safe and effective treatments for eczema, psoriasis and disorders of skin pigmentation. The initial cash injection from Lancaster Capital, represents first round funding and the company will be seeking additional funds to take forward its three programmes through further development and clinical testing with the aim of partnering with industry participants to commercialise the products internationally. www.curapel.com AWARD-WINNING HEALTHCARE SPIN-OUT RECEIVES PRIVATE EQUITY FUNDING UMIC ® UMIP ® UMI 3 University spin-out company, Gelexir Healthcare Ltd the creator of a revolutionary non- surgical procedure for the treatment of Chronic Lower Back Pain, has secured just over £350K investment from the University, The North West Fund for Biomedical (NWF4B) managed by SPARK Impact, Central Manchester Foundation Trust (CMFT) and Business Angels. The company, founded on the back of discoveries and developments made at the University over the past 10 years, will use the financial backing from investors to continue its program of advanced clinical trials scheduled to take place towards the end of 2015. Commenting on the receipt of the funding, Gelexir CEO, Dr Philippe Jenny said: "This funding is a great step forward as it provides the resources to transfer the discovery from the bench to the industrial world and pushes the technology through the demanding validation tests, heading towards the first patient." Gelexir provides an innovative and cost-effective treatment for Chronic Lower Back Pain caused by Degenerative Disc Disease. The process addresses the condition at an early stage and involves the injection of polymer microgels that restore the disc's shock absorptive properties and replicate the bio-mechanical properties of a healthy intervertebral disc. Dr Jenny added: "It has the potential to offer an alternative to spinal fusion techniques, which require invasive surgery and significant recovery times. This will be a great step forward in providing an improved treatment and faster recovery for patients." Professor Tony Freemont, Head of Manchester Medical School and Gelexir Board Member, hailed the treatment's potential significance for back pain sufferers: "There is a real need for a simple, safe, easily administered treatment for back pain that is refractory to simple drug and physiotherapy, but does not necessitate major spine surgery. This funding will allow Gelexir to get closer to taking its product, which at its current state of development appears to fulfil all these criteria, closer to clinical trials." The cash injection will provide the means for Gelexir to continue laboratory-based development and trials - with testing scheduled to commence with the help of patients in the latter half of 2015. UMIP has provided IP and business development expertise and also early-stage Proof-of- Principle funding and seed corn funding from its UMIP's Premier Fund (UPF). Translational funding has also been provided by the Engineering and Physical Sciences Research Council (EPSRC). The North West Fund for Biomedical is a sub-fund of The North West Fund, a substantial pot of money jointly financed by the European Regional Development Fund and the European Investment Bank. www.gelexir-healthcare.co.uk REVOLUTIONARY BACK PAIN TREATMENT RECEIVES OVER £350K INVESTMENT 11