Nebu-Flow was co-founded by its CEO Elijah Nazarzadeh to address the challenges of drug delivery for respiratory disorders, which are the leading cause of death and disability worldwide.
Nazarzadeh led research into the development and commercialization of nebulizer technology at the University of Glasgow, before founding Nebu-Flow as a spin-off company in 2019.
The start-up secured an oversubscribed £1.7m investment round led by Foresight Group, through the private equity and investment manager Foresight Williams Technology joint venture between Foresight and Williams Advanced Engineering.
Science Creates Ventures, Ascension Life Science Fund and SIS Ventures participated in the investment to help drive the commercialization and delivery of next-generation respiratory pharmaceuticals.
Nebu-Flow’s nebulizer has been developed to offer a number of advantages over existing technologies in a global nebulizer market valued at nearly £1 billion. Overall, the global inhalable medicine market is estimated to be worth over £35 billion in 2022.
Nazarzadeh said, “Our technology enables efficient respiratory delivery of a wider range of difficult-to-nebulize drugs. Many of these drugs, like biologics, have the potential to save lives. We are pleased to have the support of Foresight and our other investors, whose ambitions for the company are very much aligned with ours.
The company believes its technology could also help deliver cutting-edge treatments, including in areas such as gene therapy, while improving outcomes for patients with life-limiting diseases such as cystic fibrosis and obstructive pulmonary disease. chronic.
Bill Yost, Chief Investment Officer at Foresight, said, “We are delighted to announce our support for such a forward-thinking and innovative company. Nebu~Flow’s development of delivery mechanisms tailored to specific drugs represents an opportunity to expand the market and improve patient outcomes.
“Foresight Williams Technology’s expertise will provide significant value as the company develops its products, and we look forward to working with the Nebu-Flow team in the next stage of their growth.”
John Pritchard was recently named president of Nebu-Flow. He brings over 25 years of experience working with GSK, AstraZeneca and Philips, where he was involved in bringing several products to market. He received the Virginia Commonwealth University Award for Outstanding Research and Discovery in the Field of Respiratory Drug Delivery in 2018.
Pritchard said, “Elijah leads a highly motivated team developing pioneering technology, positioned to have a significant impact in global markets, and I look forward to continuing to guide and support the company as it enters its next phase of growth.
Nebu-Flow also plans to hire for a number of additional positions this year, including scientific, research, product design and developer roles.
The move came as Foresight was appointed fund manager of the Scottish Growth Scheme (SGS), a £500m business support scheme. To support the deployment of the Foresight fund, the investment manager has set up a local team in its Edinburgh office.
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