MediSieve founder George Frodsham, recently one of four runners-up for the Royal Academy of Engineering ERA Foundation Award and a member of the Academy’s Enterprise Hub, has successfully secured £350,000 seed funding to develop a revolutionary magnetic malaria-filter, which could reduce a child’s infection by 90% within hours.
The former University College London student - currently working out of an office in his attic - received expert assistance from the Academy’s Enterprise Hub on how to successfully pitch to angel investors and structure investment deals to fund further development and clinical trials of his invention. He also received expert tips from the Royal Society of Edinburgh, through his award of a BBSRC Enterprise Fellowship, and financial advisory firm Little Venice Partners.
George has now secured financial backing from a string of angel investors with expertise in the medical device and healthcare industries, including leading patent attorneys, former CEOs and successful entrepreneurs in the field.
MediSieve’s pioneering technology uses a 3D printed device to identify and filter malaria-infected blood cells with magnets in a process similar to dialysis, offering a new way to treat severe or drug-resistant types of malaria. It is particularly vital as three of the five strains of malaria that affect humans can resist anti-malarials and are rapidly spreading across large parts of Asia.
Ian Shott CBE FREng, a serial entrepreneur who has also held senior positions at biotech giants including AstraZeneca, and is Chair of the Academy’s Enterprise Committee, said:
“The aim of the Enterprise Hub is to get Britain’s world-leading research innovations from lab to market by fostering long-term relationships between academia and industry. We empower researchers to commercialise their ideas by drawing on the expertise of the private sector. George has not only won significant financial backing, he has also secured a string of investors with a huge combined pool of expertise in the commercialisation of healthcare technology. George’s innovation has the capacity to transform lives across the developing world and we are delighted to have helped take this idea one step closer to market.”
George Frodsham, CEO of MediSieve, said: “The support and investment we have received from other entrepreneurs and experts in this field, demonstrates real confidence in our innovation and it means we am now ready to take it to the next level. With the recent drug-resistant malaria outbreak across Asia, I hope MediSieve could make a real impact by providing a new way to combat severe or drug resistant malaria malaria.”