Member Press Release - PulmoBioMed – a new medtech spin-out in the North East of England
PulmoBioMed – a new medtech spin-out in the North East of England
Launched with funding from Northumbria University and Innovate UK, and with its first product PBM-HaleTM in clinical trials in Europe, PulmoBioMed now seeks to close its £2.5 m initial equity capital raise.
PBM-HaleTM, a Class 1 medical device, is designed to collect exhaled breath condensate samples in a non-invasive manner. The hand-held device captures a wide range of biomarkers including protein, RNA, DNA, bacteria, fungi, viruses, and a range of volatile and non-volatile compounds associated with a wide range of diseases such as asthma, respiratory illnesses, cancer, neurodegenerative and metabolic conditions. PulmoBioMed is developing both the sampling technology and analytical capacity that will be integrated into a series of new products to ultimately deliver instant diagnostic capabilities.
Initially focussing on healthcare applications, the device is currently being tested in COVID clinics. Agreements are in place with PLC listed companies with different analytical platforms that are capable of delivering diagnostic results in minutes. The technology also has applications in the veterinary, environmental, travel, entertainment, and workplace testing sectors.
Based in Newcastle Upon Tyne in the north east of England, PulmoBioMed is an exciting prospect. Led by an experienced team and founded on science and technology developed by Dr Sterghios Moschos (CSO) the company has already made impressive progress in a relatively short time.
CEO Pete Hotten said, “We couldn’t have reached this stage without the support of Northumbria University and funding from Northern Accelerator, NxNW ICURe and Innovate UK. Clinical trials of the device in several countries have proved that our technology works. Our focus now is on driving forward to refine and develop our device both in-house and with partners. Further investment is needed to achieve this and we are keen to talk to all interested investors.”
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