Foresight Williams Technology spearheads £1.7 million oversubscribed investment round in Nebu~Flow
Investors in this round: Led by Foresight Williams Technology
- Transaction includes £1.7 million of funding split across Foresight Williams Technology, Science Creates Ventures, Ascension Life Fund and SIS Ventures
- Nebu~Flow’s innovative nebuliser concept will enable use of next-generation respiratory pharmaceuticals and improve the efficiency of well-established lung treatments
- Addressing a large global market, currently valued at $1.16 billion and growing at 5% compound annual growth rate
Foresight Group (“Foresight”), a listed private equity and infrastructure investment manager, has led a £1.7 million funding round into Nebu~Flow (“the Company”), an innovative medical device company developing surface acoustic wave (“SAW”) nebulisers; enabling the delivery of next-generation respiratory pharmaceuticals and improving the efficiency of well-established lung treatments. The investment round was led by Foresight Williams Technology (“FWT”), a joint venture between Foresight and Williams Advanced Engineering (“WAE”).
Founded in 2019 and led by CEO Dr. Elijah Nazarzadeh, Nebu~Flow – a spin-out from the University of Glasgow – is currently developing its patent protected nebuliser architecture, which provides several advantages over competing technologies. These include greater control over aerosol droplet size, improved ease of use and the ability to administer drugs not otherwise compatible with nebuliser technologies. The Company’s core product will be its nebulisation engine, the unit within the nebuliser which aerosolises drugs.
The investment round will enable Nebu~Flow to progress its product development and commercialisation strategy, making it well placed to gain market share from existing nebulisers and to unlock the use of biologics in respiratory medicine. The nebuliser device market is currently valued at $1.16 billion and growing at 7.5% compound annual growth rate (“CAGR”).
Nebu~Flow is aligned with two of Foresight’s Private Equity ESG themes: Health and R&D. Nebu~Flow’s activities support creating good health and well-being; supporting industry, innovation and infrastructure; as well as aiding responsible consumption of antibiotics. Nebu~Flow’s technology could potentially enable the delivery of cutting-edge treatments such as gene therapy and personalised medicine and improve outcomes for patients with life limiting conditions such as Cystic Fibrosis (“CF”) and Chronic Obstructive Pulmonary Disease (“COPD”).
Bill Yost, Investment Manager at Foresight, commented: “We are excited to announce our support for such a forward thinking and innovative business. 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 offer significant value as the Company develops its products, and we look forward to working with the team at Nebu~Flow during the next stage of their growth.”
Matthew Burke, Head of Technology Ventures at WAE, added: “We’ve been impressed with the progress Nebu~Flow has made over the past 18 months in developing its core surface acoustic wave nebuliser technology. This investment will accelerate product development and WAE is well placed to support the Company as it continues its path towards commercialisation.”
Dr. Elijah Nazarzadeh, CEO at Nebu~Flow, added: “We are incredibly pleased to be partnering with Foresight as Nebu~Flow continues to invest in product development and our commercial strategy. In a very exciting period for the industry, Foresight’s support will be vital in our next chapter of growth.”