Mobius Life Sciences Fund Invests in Medibord Ltd
Posted on 08. Aug, 2010 by editor in Business News
Mobius Life Sciences Fund has announced a £75,000 investment in
Medibord™ Ltd, an award-winning medical technology company that designs and manufactures patient positioning boards for use in MRI scanners and radiotherapy treatments.
Based in BioCity Nottingham, Medibord Ltd’s first product is a radio-translucent, MR compatible composite which was developed in response to oncologists’ need for greater treatment accuracy, especially for prostate cancer. With positive feedback from UK users, the company is planning to expand sales into the Middle East, followed by the United States and European markets.
Chairman of the Mobius Life Sciences Fund, Lucy P. Marcus, who will join the Medibord Ltd board as a non-executive Director says: “Medibord has an exciting, innovative product which fills a clear market need. The company has ambitious plans for growth, a strong and committed management team and a clear path for developing further products to meet their market: all hallmarks of the type of venture Mobius Life Sciences wants to invest in.”
Medibord™ CEO Jonathan Richards (pictured with Dr Glenn Crocker, CEO of BioCity) adds: “With their expertise, contacts and medical sector knowledge, Mobius Life Sciences will bring more than money to Medibord. Mobius will help build our credibility and bolster our ability to move further and faster with our research and development, and will enable us to look beyond the UK market much sooner than we anticipated.”
The investment in Medibord is in the form of equity and debt, with the debt component being provided through Mobius’ collaboration with Nottingham City Council.
