StimOxyGen Secures £1.5M to Advance Cancer Therapies
Unlocking the Future of Cancer Treatment: StimOxyGen Secures £1.5M in Funding
In an exciting development for the medical sector, StimOxyGen, a pioneering company from Derry, Northern Ireland, has successfully raised £1.5M in funding to further its groundbreaking work in cancer treatment. This funding round, spearheaded by DSW Ventures, also saw participation from QUBIS and Co-Fund NI, with additional resources provided through Innovate UK's Future Economy Investor Partnership grant programme. This influx of capital will enable StimOxyGen to progress its innovative therapies and enhance the well-being of cancer patients.
StimOxyGen is not just another startup; it's a spin-out from Ulster University, guided by an exceptional leadership team that includes CEO Sian Farrell, CSO Professor Tony McHale, and Non-Executive Director Dr.
Les Russell. The company focuses on revolutionizing cancer treatments by delivering oxygen directly to tumours, aiming to significantly boost the efficacy of existing therapies like radiotherapy and immunotherapy. Its lead candidate is designed to address a critical challenge in oncology: increasing tumour oxygenation to make resistant cancers more responsive to conventional treatments. With preclinical studies revealing substantial tumour reduction when combined with radiotherapy, StimOxyGen is poised to make waves in the cancer treatment landscape.
Focusing initially on pancreatic cancer, a disease notorious for its grim five-year survival rate of just 13% and scant treatment options, StimOxyGen's approach could be a game-changer for patients in dire need of effective therapies. The funds will not only support essential preclinical studies but also facilitate scaling up manufacturing processes and expanding the team, paving the way for clinical translation. As investors consider opportunities in the healthcare sector, StimOxyGen stands out as a beacon of hope for oncological advancements, making it an attractive prospect for investment on multiple fronts.
Key Terms Explained
- Funding
- Monetary resources contributed by investors to help develop and expand a startup. In this case, StimOxyGen secured £1.5M in funding.
- Spin-out
- A type of startup founded based on intellectual property, technology, or research that originates from a university or research institute. StimOxyGen is a spin-out from Ulster University.
- Investment
- The action or process of allocating capital with the expectation of receiving profits, typically in a commercial or economic venture. StimOxyGen stands out as an attractive prospect for investment on multiple fronts.
Frequently Asked Questions
- How much funding did StimOxyGen secure for its cancer treatment work?-StimOxyGen secured £1.5M in funding for its groundbreaking work in cancer treatment.
- Which investors participated in StimOxyGen's funding round?+
- What will the funding allow StimOxyGen to do?+
- What is the primary focus of StimOxyGen?+
- How offers StimOxyGen an attractive prospect for investment?+
They've invested in StimOxyGen
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