Heraeus is investing in the Nottingham spin-out.
Locate Therapeutics, a spin-out from Nottingham University, has secured equity investment from Heraeus Holding, a precious metal and technology business. Although the amount is undisclosed, the investment is part of a multi-million-pound funding package secured by Locate. That package includes a £1.4m ($2.35m) grant from the Technology Strategy Board, the UK’s innovation agency.
Locate Therapeutics specialises in regenerative medicine and devices. The company was previously awarded funding and financial assistance from the Wellcome Trust and the university, which it used to develop TAOS (Targeted, Orchestrated Signaling).
TAOS is a patented polymer platform for tissue repair. Following injection, the material assembles into a 3D porous structure, appearing and performing much like an implanted construct. The technology completely removes the need for invasive surgery, meaning that operation and rehabilitation times, as well as post-operative complications are all reduced. The material degrades naturally, only leaving behind newly-formed tissue within the patient.
The deal allows Heraeus to expand its regenerative medicine pipeline, while Locate will be able to expedite the commercial development of its platform.
Ashley Cooper, chief executive of Locate, said: “We are delighted to have secured an investment from a company that really understands the needs and opportunities that exist in the regenerative medicine field and which is investing for the long term. This gives us great confidence that we will be able to fully exploit the therapeutic and commercial potential of TAOS.”
