‘Watershed moment’ as London medtech closes £1.75m funding round

The medtech company behind a new blood filtration device has secured seven-figure funding.

London-based MediSieve Ltd secured the £1.75m boost from a mix of new and existing investors.

Private capital network 24Haymarket led the round by contributing £632k, with director Marek Gumienny joining the MediSieve board as non-executive director.

MediSieve said the investment will “contribute greatly” to further research and development while providing a strong source of future capital.

The company currently operates from office and lab space at Imperial College London’s Translation & Innovation Hub (I-HUB).

MediSieve is best known for its magnetic blood filtration technology, which targets blood-borne diseases by magnetically filtering specific disease-causing components in the bloodstream.

It could eventually be used to treat malaria, sepsis and leukaemia.

The founder and CEO of MediSieve, Dr George Frodsham, said: “This investment represents a watershed moment for MediSieve, and gives us the resources required to move forward with our product development and commercialisation over the coming years.

“We are very pleased to have found investors who will be actively involved in supporting the company as we grow, and who share our vision of a future where we can provide doctors with the ability to clean a patient’s blood and treat a variety of blood-borne diseases.

He added: “The best investors bring more than just funds, and I am very excited to have them join us on the journey. This is going to be a very exciting period of growth and development for MediSieve.”

Marek Gumienny of 24Haymarket commented: “MediSieve is an excellent example of the type of businesses 24Haymarket is proud to back.

“We have an outstanding founder and entrepreneur in George Frodsham and potentially a global game changer in the treatment of such devastating diseases such as malaria and sepsis.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.