Renephra Follow On
26th February 2020
2019 saw huge progress for MedTech firm Renephra, who saw their second round of funding facilitated by NorthInvest and the Innovation SuperNetwork as part of the Regional Angel Investment Accelerator programme – take them another step closer to bringing their product to market.
WHAT PROBLEM IS RENEPHRA SOLVING?
The startup, originating from the University of Manchester, has developed a patented transdermal fluid removal device that removes excess interstitial fluid through the skin. This innovative technology secured Renephra’s successful application for Innovate UK grant funding, as part of the RAIA programme.
The product looks to help alleviate the significant ongoing medical problems associated with fluid overload within the human body; often suffered by people going through treatments like chemotherapy and with conditions like chronic oedema, lymphoedema or heart failure. The device is a minimally invasive, and more cost effective alternative to the current solutions of diuretics, dialysis and ultrafiltration.
Renephra were successful in their application to the Regional Angel Investor Accelerator (RAIA) Programme, with £30,000 in equity committed by NorthInvest angels Sarah Jones and Dr David Pearce match-funded by Innovate UK.
Current investors include: Deepbridge Capital, Catapult Ventures, GM&C Life Sciences Fund, MTI Ventures, SPARK Impact, Central Manchester NHS Foundation Trust, The University of Manchester, Individual investors.
NorthInvest Angel Investor, Sarah Jones, says:
‘As an early investor in Renephra with NorthInvest, it’s very exciting to be part of a second round with the pioneering startup. With this follow-on investment, Renephra are another step closer on their journey to developing novel technology for treatment of fluid overload and chronic oedema – a product which could have a huge clinical impact, both on patient quality of life and scarce health service resources.’