Programme:Northern Powerhouse Investment Fund
Established in 2012, Microbiosensor is a University of Manchester spin-out company which develops disposable point-of-care medical devices for the early diagnosis of microbial infection.
The £700,000 equity investment, facilitated by NPIF – Maven Equity Finance, an NPIF product fund managed by Maven Capital Partners (“Maven”), is a co-investment deal alongside Catapult Cheshire Life Sciences Fund.
The company’s technology platform, which is initially being targeted at key markets in peritoneal dialysis and urinary tract infection, provides point of care infection diagnosis through a simple colour change in a hand-held device. This unique feature enables patients and physicians to be alerted to escalating infections, allowing more timely and effective targeting of appropriate intervention.
The investment from NPIF, supported by the European Regional Development Fund, provided essential capital needed to take these products through critical development and clinical trial phases, in order to bring the product to market. The additional funds will allow the business to build intellectual property, execute its growth strategy and create value.
Delivered by the British Business Bank, NPIF provides microloans, debt and equity investments, ranging from £25,000 to £2m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929
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