AIM-listed Fusion IP, the university intellectual property commercialisation company, has backed two new start-up companies in early 2010.
The first is a medical devices company called Asalus Medical Instruments. Asalus is a new spin-out company from Fusion’s partnership with Cardiff University and is founded on the innovative research work of Dr Neil Warren, the manager of the Wales Institute of Minimal Access Therapy (WIMAT) (http://www.cardiff.ac.uk/pgmde/sections/wimat/index.html ). The business is developing three devices that will aim to improve the safety and efficiency of laparoscopic surgery, which is a technique where operations in the abdomen are performed through small incisions.
Dominic Griffiths, Portfolio Investment Manager of Fusion IP and Director of Asalus said: “Asalus has a great opportunity to be a developer of some of the UK’s leading laparoscopic devices and we look forward to supporting the company as it commercialises its product range.”
The second company, Progenteq, is developing a novel cartilage replacement therapy that has the potential to revolutionise the treatment of acute knee injuries. The company has been founded on the work of Professor Charlie Archer's research group at Cardiff University's School of Bioscience. Professor Archer is Leader of the Connective Tissue Biology Group, http://www.cardiff.ac.uk/biosi/research/connectivetissuebiology/index.html recognised for excellence in tissue engineering and repair research.
David Baynes, CEO of Fusion IP said: "Cardiff University continues to produce world class Intellectual Property. Although this is an early stage project, an allogeneic approach has been described as "the holy grail" of cartilage repair. We believe that Professor Archer's discovery may be the key and as such it has the potential to revolutionise the way we treat acute knee injuries. The support from the Technology Strategy Board is proving invaluable in catalysing innovation in regenerative medicine in the UK and we look forward to Progenteq taking its first stages towards the clinic."
Further InformationAsalusProgenteqFusion IP