Pictured above: Seated, Julie Newman (Midven), right, with
Robert Milnes (CEO of Fertility Focus Ltd), left, pictured back,
Sam Taylor, Dr Mo Aslam, Robert Bernays, Mark Fisher
A West Midlands company that has the ultimate goal of increasing
pregnancy rates in infertile couples by up to 50%, has received
£775,000 in financial backing from a consortium of investors
including The Exceed Midlands Advantage Fund.
Fertility Focus Limited, which is establishing offices in the
Warwick Technology Park, has been backed to the tune of
£375,000 by The Exceed Fund, which is managed by Midven. A
further £250,000 has been invested by Norgenix, a US
distributor of women's health products, and three individual
investors through Envestors.
Tony Stott, chief executive of Midven, said: "Fertility Focus
was formed in 2005 to licence intellectual property for the
Fertility Monitor from Bristol University and since then has
developed two unique products. It is an innovative company with
excellent prospects and its products provide solutions to the many
issues faced by infertile couples."
Robert Milnes, CEO of Fertility Focus Limited, said: "We are
delighted to receive the backing of Midven in our efforts to
improve the diagnosis and treatment of infertility. We have
exciting plans for developing the business and look forward to
working with Midven as we grow."
Already approved for sale in Europe and the USA, the company's
Fertiloscope is a minimally invasive instrument for the early
diagnosis and immediate corrective surgery of physical
abnormalities in the female reproductive organs. Fertility Focus'
Advanced Fertility Monitor identifies and predicts periods of
maximum fertility and is also able to diagnose women who are not
ovulating regularly thus enabling earlier intervention.
The funding is to be used primarily to complete regulatory
approvals for the Advanced Fertility Monitor and launch it into the
European market, said Mr Stott.
"Fertility Focus is a great example of a company that has very
real prospects and we are delighted to support the management team
in bringing these products to the market," he said.
"Increased education and affluence has seen a dramatic rise in
those couples who seek IVF - the most common form of assisted
reproductive technology. Current treatments employed globally are
unable to cope with the demographic change - with success rates
falling well short of patients' expectations. There is a gap in the
market for better diagnostic techniques and faster methods of
treatment - and Fertility Focus is well placed to exploit this
opportunity," said Mr Stott.
The company currently employs two staff and uses a network of
agents and distributors in Europe and worldwide.
For more information about Midven, please visit their website
here: www.midven.co.uk