Tech News Summary:
- PolyPhotonix has received a significant investment from NPIF-FW Capital Debt Finance to support the production and distribution of their Noctura 400 Mask, designed to help preserve the vision of diabetes patients with diabetic retinopathy.
- The Noctura 400 Mask has shown promise in managing nocturnal oxygen demand of the retina, preventing retinal hypoxia, and improving or stabilizing vision loss in diabetics. It offers a cost-effective and non-invasive at-home treatment option compared to traditional hospital clinic treatments.
- Following approval from the UK NHS, PolyPhotonix has partnered with Embecta to distribute Noctura 400 Masks in the UK and Ireland initially, with plans for further expansion. The investment from NPIF-FW Capital Debt Finance will support their expansion efforts within the NHS system.
PolyPhotonix, a leading developer of non-invasive medical technologies, has received a significant financial backing from the Northern Powerhouse Investment Fund (NPIF) to support the development and commercialization of their groundbreaking Diabetic Retinopathy Mask.
The NPIF funding will allow PolyPhotonix to further advance their innovative medical device, which has the potential to revolutionize the treatment of diabetic retinopathy, a common complication of diabetes that can lead to vision loss and blindness if left untreated.
The Diabetic Retinopathy Mask utilizes a unique light therapy to stimulate the retina and reduce the progression of the disease. Unlike traditional treatments that require invasive procedures and frequent hospital visits, the mask can be used at home, offering a more convenient and cost-effective solution for patients.
“This funding from NPIF is a crucial step in bringing our Diabetic Retinopathy Mask to market and making a real impact in the lives of people living with diabetes,” said Richard Kirk, CEO of PolyPhotonix. “We are confident that this technology has the potential to significantly improve the management of diabetic retinopathy and prevent the devastating consequences of vision loss.”
The NPIF, managed by British Business Financial Services Limited, provides investment and support to high-growth businesses in the North of England, helping to drive economic growth and job creation in the region.
“We are thrilled to support PolyPhotonix in their mission to develop a game-changing technology for diabetes treatment,” said Grant Peggie, Director of Venture Capital at the British Business Bank. “This investment aligns with our commitment to backing innovative companies that have the potential to make a positive impact on healthcare and improve patient outcomes.”
With the NPIF backing, PolyPhotonix is now poised to accelerate the development and commercialization of the Diabetic Retinopathy Mask, bringing hope to the millions of people affected by diabetic retinopathy worldwide. This significant investment marks an important milestone in the company’s journey to revolutionize diabetes treatment and transform the lives of patients.