A £1.25m investment has been made into a fertility monitoring technology company in Warwick, a spin out of the University of Bristol.
A £1.25m investment has been made into a fertility monitoring technology company in Warwick, a spin out of the University of Bristol. The Manchester office of the Foresight Group, which was introduced to Fertility Focus by Shaw & Co, has announced the growth capital investment into Fertility Focus (FFL).
The company developed OvuSense, a registered medical device that enables women to predict ovulation.
The investment was led by Foresight on behalf of Foresight VCT plc and Foresight 4 VCT as part of a larger £2m funding round.
FFL was established in 2005 to commercialise the intellectual property developed by a team from the university that identified the ability to determine and predict ovulation with a high degree of accuracy by monitoring subtle changes in body temperature.
FFL’s management team is led by chief executive Robert Milnes and non-exec chairman Steve Godber.
Foresight’s investment will primarily be used to invest in sales and marketing and will also und a clinical trial to further prove the benefits of OvuSense as a tool to diagnose ovulatory issues.
We have been impressed by the rapid progress FFL has made since launch of the second-generation OvuSense product with strong sales traction in the US and UK. "
Jones continued: “FFL is a well-run business that has developed an innovative, clinically supported and IP rich product in OvuSense. We are looking forward to working alongside Rob Milnes and the wider management team on the next stage of the Company’s growth.”
Rob Milnes, FFL chief executive, added: “We are thrilled to be working with Foresight to grow our team and accelerate our sales and marketing activity. The investment marks an important stage in our development."
Milnes added: “With Foresight’s deep experience and support, FFL is well prepared and equipped for further growth.”
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