MTI invests in university spinout BiOxyDyn
MTI has invested £650,000 in university spinout and medical imaging company BiOxyDyn.
The investment was made through the UMIP Premier Fund, which provides seed capital to commercialise intellectual property developed at the University of Manchester. MTI is currently looking for co-investors to support the company.
Company
BiOxyDyn was founded in 2010, supported by the University of Manchester. It provides two specialised variations of traditional medical resonance imaging (MRI): dynamic contrast enhanced MRI, which targets inflammatory diseases and oncology, and oxygen-enhanced MRI, which is a method for imaging the lung.
The company aims to repackage its solutions as software products to be installed on existing and compatible MRI machines. It has secured around £500,000 worth of orders from pharmaceutical companies and hopes to contribute to drug trials, particularly in respiratory medicine.
People
Partner Mark Rahn worked on the deal for MTI. Professor Geoff Parker is the founder of BiOxyDyn.
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