A company that could revolutionise the treatment of painful leg ulcers has received investment from Cambridge University.
Cambridge Enterprise Seed Funds and Cambridge Capital Group have co-invested in Inotec AMD to enable the development of a more effective treatment for typical leg ulcers, an affliction which afflicts over two million EU citizens. This condition is increasing rapidly in line with aging populations and patient numbers are predicted to rise steeply.
Leg ulcers are painful, immobilising and very difficult to treat. Many take an average of 15 weeks to heal and others never heal, costing the NHS millions of pounds each year. Despite hundreds of products devoted to wound care, the treatment of ulcers remain a challenge to physicians frustrated by slow healing and increasing treatment costs.
Inotec AMD’s first product, called Velox, is the result of a collaboration with Prof Derek Fray of the Department of Materials Science and Metallurgy.
The Velox system generates oxygen, from a small battery powered unit, which is distributed evenly across a wound, typically a lower leg ulcer. In this way the oxygen is applied topically at the point where it is needed. Conventional dressings are retained and Velox does not need to be applied by a trained clinician. The patient remains fully mobile and can enjoy a normal lifestyle away from the hospital.
Mel Vinton, who founded Inotec AMD at the end of 2003, decided to tackle the challenge of finding a cost effective therapy after watching his aunt suffer from this debilitating condition.
Inotec has also recently received a substantial R&D grant from EEDA, the East of England Development Agency.
‘Our first investment has developed pre-production prototypes of this exciting technology. We are now delighted to co-invest with the Cambridge Capital Group to take this wound healing product into the clinics,’ said Dr Nick Slaymaker, Investment Manager for the Seed Funds and Director of Inotec.