NuVision Biotherapies, a Nottingham-based eye therapy company whose products are designed to speed healing of eye conditions, has raised a further £4.8 million in a funding round led by the Midlands Engine Investment Fund II through its appointed fund manager Mercia Ventures, with participation from the University of Nottingham and Pioneer Group. The company said the funding will be used to scale the business to meet growing demand and expand into additional international markets.
NuVision develops products that harness amniotic membrane, the tissue surrounding babies in the womb, to support wound healing after surgery and to help manage conditions such as ulcers, burns, glaucoma, and infections. Its first product, Omnigen, was designed for use in operating theatres. The company said the launch of OmniLenz, a specialised contact lens, enables the use of amniotic membrane without surgery, extending access to treatment in opticians’ practices and outpatient clinics.
NuVision said it supplies more than 160 NHS centres and private clinics in the U.K., including Moorfields Eye Hospital, and is also active in 12 countries across Europe, Scandinavia, and the Middle East. Following a clinical trial, the company said a combination of Omnigen and OmniLenz is now being used to treat dry eye disease, which it described as common and debilitating.
Founded in 2015 by Dr. Andy Hopkinson based on research at the University of Nottingham, NuVision sources amniotic tissue donated by women undergoing elective Caesarean procedures and manufactures products at its Nottingham facility. The company said its process is designed to preserve the tissue’s healing properties while producing products that can be stored at room temperature for extended periods. Mercia Ventures and the Midlands Engine Investment Fund II have backed NuVision since its inception and have provided successive rounds of funding in 2023 and 2024. Shakespeare Martineau provided legal advice to Mercia Ventures on the transaction.
KEY QUOTES
“This round of funding will enable the proven benefits of treatment with amniotic membrane to be made available to those patients with damage to their eyes caused by traumatic injury or following eye surgery and transform the lives of people living with chronic eye conditions like dry eye disease. Our goal is to see treatment using our products become a global standard of care in ophthalmology and optometry.”
Noel Waters, Chief Operating Officer, NuVision Biotherapies
“The Midlands Engine Investment Fund II was established to back innovative businesses and industry leaders that create a positive impact in the region. Seeing NuVision return to secure more funding after its successes is a testament to what the Fund stands for. This latest investment will support the business to accommodate growing demand for its products and enter new markets.”
David Tindall, Senior Investment Manager, British Business Bank
“NuVision has made huge strides forward over the past few years. From selling solely into surgical units, it now supplies locations ranging from hospitals to high street optometrists. The team has shipped over 15,000 treatments and expanded to multiple markets across Europe and the Middle East. This latest funding will enable it to continuing building momentum and scale up manufacturing.”
Hannah Tapsell Chapman, Mercia Ventures
