21st November 2016

PulmonIR secures investment

A new company has been spun out from the Swansea University’s Medical School with backing from the Welsh Government, IP Group, Finance Wales and the Swansea University Innovation Fund.

PulmonIR Ltd has been set up to commercialise new technology designed to diagnose and monitor Chronic Obstructive Pulmonary Disease (COPD), one of the most common lung diseases in the UK.

Clinical trials in collaboration with Cwm Taf University Health Board to validate the technology are now underway following a capital grant from Welsh Government health technology fund.

A substantial investment has also been made in the new business from a syndicate including IP Group, Finance Wales and the Swansea University Innovation Fund.

Paul Lewis of Swansea University’s Medical School, whose research led to the development of the technology, said the technology could “allow health professionals to test and diagnose COPD patients in as little as ten minutes”.

Mark Bowman, chief executive of PulmonIR Ltd, said: “I was very happy to be asked by the investor group to join the new company and to lead the initial phases of its commercial development.

“Professor Lewis and I will be working closely with Dr Sadiyah Hand to deliver the preliminary clinical trial results. At this point, PulmonIR should be well-placed to secure the necessary regulatory approvals that are essential for launching a commercial product into the international healthcare markets.”

COPD affects more than 330 million people worldwide at an estimated cost to healthcare providers of about $2tn (£1.6tn) per year. The primary causes are cigarette smoking and/or exposure to tobacco smoke.

Capital Law in Cardiff acted for PulmonIR Ltd in completing the investment.

View PulmonIR’s profile here.