QV Bioelectronics is developing a first-of-its-kind implantable medical device, the GRACE implant, for the treatment of malignant brain tumours using electrical fields. The implant has the potential to double the survival of patients with the most serious brain tumours. This new form of therapy utilises specific frequencies of electrical stimulation to directly interfere with the process of cancer cell division, mitosis, to slow tumour growth and deliver longer, better quality lives to brain tumour patients.
Dr Christopher Bullock is the CEO and co-founder of QV Bioelectronics. As CEO, he oversees all aspects of the company. In practice, as a prerevenue deep-tech company, a large part of his focus is on technology development and company growth strategy.
QV is progressing from a small, research and development (R&D) focused team, into a company preparing to launch its technology into the clinic, both in the UK and internationally. Dr Bullock recognises that this will require rapid company growth (and evolution of internal management practices), establishment of commercial sales and distribution, and raising significant further VC investment. He reflects that in order to achieve these goals, he needs to improve his strategic leadership skills as CEO. Dr Bullock plans to use the Shott Scale up Accelerator to access mentoring from experienced engineering leaders to help navigate the challenges ahead.
He also identifies that the formal training on offer will help to develop his core business strategy skills and help in getting QV’s growth strategy right ahead of the clinical launch. Currently QV are focusing on finalising the design of the GRACE implant, preclinical biology, and developing the surgical procedure to fit the implant. Beyond the science, they are working to establish the clinical relationships needed to deliver a world first clinical trial in this field in the next two years. To fund that clinical study, they will be seeking to raise a Series A investment round within the next 18 months and need to develop their pitch, network with investors, and ensure they have the right commercial strategy in place to deliver that investment. The only incumbent company in this field made more than $500m in sales revenues last year from 15% of the US patient population with a technology approach QV believe is inferior to their offering.
