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Innovative medical firm raises £500k in backing from investors

Big congratulations to portfolio company, VascVersa Ltd, and its CEO Christina O'Neill and Chairman Aidan Courtney on recently securing an equity funding round of £500k.

This funding will allow the company to accelerate the development of its product, Angicyte, which helps the body's healing process in chronic non-healing wounds by making new blood vessels, which leads to improved blood supply.

VascVersa is an early-stage spin-out from Queen’s University specialising in “visionary” technology for vascular regeneration.

In its second seed round, it has raised the money from Co-Fund NI, managed by Clarendon Fund Managers; QUBIS, the commercialisation arm of Queen’s University; the Innovation Investment Fund, and angel investors from the Halo & Business Angel Network.

The first target is “chronic non-healing wounds” which includes diabetic foot ulcers.

Aidan Courtney, chairman of VascVersa, added: “We have received tremendous support from our investors and Queen’s University Belfast which will allow the company to expand its Belfast research facilities and develop new products based on its groundbreaking technology.” Stuart Gaffikin, investment manager at Clarendon Fund Managers, said Co-Fund NI was “delighted” to support VascVersa.

In 2016 he co-founded Roslin Cells, a provider of stem cells and developer of new cell therapies.

He restructured Roslin Cells to create two separate spin-out businesses and subsequently became CEO of Censo Biotechnologies.