Investing in the spin-out

IP Group, which announced its new partnership with the University of Glasgow in October last year, has invested £400,000 in Wireless bioDevices which has been set up to commercialise wireless sensor technology for use in medical diagnostics.

Based on wireless sensor technology developed by Professor Jon Cooper and Professor David Cumming of the University of Glasgow's Department of Electronic & Electrical Engineering, the company's first product will be a diagnostic pill that detects early signs of bowel cancer. The electronic pill will take measurements as it passes through the body, transmitting the data via a wireless link to a small unit attached externally to the patient. Potentially the device could be used to detect a large range of medically important markers.

Nick Wood, who has been working with the University of Glasgow for the last 12 months under funding from the Scottish Enterprise Glasgow/ERDF (European Regional Development Fund) CEO Designate programme, is Wireless bioDevices' Chief Executive Officer. Mr Wood is a serial entrepreneur and a founder of Sagentia, the UK listed technology group. Through his incubation company, daVinci Ventures Limited, Mr Wood now specialises in technology commercialisation, working with University spin-outs and start-up companies around the UK.