Cheshire Biotech Firm Secures £4.5m to Advance Revolutionary Brain Cancer Treatment
A pioneering biotech company based in Cheshire has successfully secured £4.5 million in funding to propel its groundbreaking implantable treatment for brain cancer towards clinical use. QV Bioelectronics, headquartered at Alderley Park, is developing what it describes as a world-first implantable device specifically designed to tackle glioblastoma (GBM), the most common form of primary brain cancer in adults.
Addressing a Critical Unmet Medical Need
Glioblastoma represents a devastating diagnosis, with Cancer Research UK noting it accounted for approximately 32% of all brain tumours diagnosed in England between 1995 and 2017. The disease affects around 2,200 adults annually in the UK. Current prognosis remains bleak, with The Brain Tumour Charity reporting patients typically survive an average of 12 to 18 months post-diagnosis. Only about 3% of patients live for five years after diagnosis, and fewer than 1% survive for 15 years, highlighting the urgent need for innovative treatments.
The GRACE Implant Technology
QV Bioelectronics' flagship technology, named GRACE (Glioma Resection Advanced Cavity Electric Field therapy), was co-founded by Dr Christopher Bullock, a biomedical engineer, and Dr Richard Fu, an NHS neurosurgeon. The implantable device utilises electric field therapy to target and eliminate residual cancer cells following brain tumour surgery.
The company asserts that continuous therapeutic electric fields delivered via GRACE can help prevent cancer recurrence while simultaneously improving patients' quality of life. Early laboratory testing has yielded positive results, paving the way for clinical advancement.
Funding and Investment Details
The substantial £4.5 million investment round was spearheaded by PXN Ventures, the entity formed through the merger of Praetura Ventures and Par Equity. Investment was channelled through the GMC Life Sciences Fund by PXN Ventures, managed on behalf of partners including Bruntwood SciTech, Enterprise Cheshire and Warrington, and the Greater Manchester Combined Authority.
Additional funding was provided by NPIF II – PXN Equity Finance, managed by PXN Ventures under the Northern Powerhouse Investment Fund II. The round also saw contributions from Empirical Ventures and various angel investors, with support from the National Institute for Health and Care Research and Innovate UK.
Strategic Vision and Clinical Progress
Dr Christopher Bullock, CEO and co-founder of QV Bioelectronics, emphasised the company's mission, stating: "Brain cancer is a devastating diagnosis, and for too long patients and families have had few treatment options. Our mission is to develop technology that can meaningfully extend life and give people more time with those they love."
He added that the investment enables a major step forward, allowing progression into first-in-human studies later this year and generating crucial evidence required to bring this novel treatment approach to patients.
Industry Endorsement and Regional Impact
Dr Kath Mackay, Chief Scientific Officer at Bruntwood SciTech, commented on the significance of the funding: "The North West is a hotbed of life sciences innovation. Securing this level of funding is a major vote of confidence in both the team and their pioneering approach."
Sue Barnard, Senior Investment Manager at the British Business Bank, noted: "QV Bioelectronics is a great example of the ambitious, high-impact innovation we want to support. This funding will help strengthen the North West's reputation as a leading hub for life sciences innovation."
Dr Nicky Huskens, CEO of the Tessa Jowell Brain Cancer Mission, also offered congratulations, underscoring the critical importance of investment in the brain tumour sector given the disease's treatment challenges.
The funding will be instrumental in supporting ongoing clinical trials and the company's transition towards human studies, marking a pivotal moment in the development of this potentially life-extending technology for glioblastoma patients.
