UK-based medical startup QV Bioelectronics (IndieBio RebelBio 08) has received £2M ($2.1M USD) in pre-series A funding to continue developing GRACE, its electric field therapy (EFT) implant. The funding round was co-led by Science Angel Syndicate and Fink Family Office, with participation from existing investors SOSV and Catapult Ventures as well as new investors Northern Gritstone and Elbow Beach Capital.
QV Bioelectronics’ implanted electrotherapy device GRACE (Glioma Resection Advanced Cavity Electric field therapy), is designed to incrementally divide cancer cells in the brain without harming healthy brain cells. First targeting glioblastoma (GBM), one of the most common and deadly adult brain cancers, QV expects its device to double a patient’s life expectancy while also improving quality of life. It does this by delivering electrotherapeutic currents around the clock.
“Ultimately, we at QV are driven by the challenge to make a meaningful difference to the lives of brain cancer patients around the world,” said QV’s founders, Richard Fu and Chris Bullock. “It is our aspiration that GRACE will optimise the treatment effects of electric field therapy, whilst working synergistically alongside other existing and emerging cancer treatments.”
Outlets including Tech.eu (“UK-based QV Bioelectronics raises £2 million for potential brain tumour treatment”) covered the news.