The UK MedTech Landscape
The NHS, like many other health systems, is continually looking for MedTech innovations that will enable earlier diagnosis of disease, address unmet needs in healthcare and support early intervention and independent living for patients.
The last decade has also seen a boom in the market for wearable technologies like smartwatches, driven largely by Fitbit, Garmin and Apple’s watch division. Though these businesses are not technically considered within the MedTech realm, and while the watches they produce are not medical devices per se, they still empower many users to lead healthier lifestyles. Apple watches even have health diagnosis and monitoring functions that have been cleared by the FDA.
Driven by this growing commercialisation, and fuelled by advances in science and tech, fresh opportunities are opening up, and the sector is thriving. Indeed, according to the International Trade Administration, MedTech is considered a “best prospect industry sector” for the UK, generating an annual turnover of approximately £24 billion each year.
MedTech Investment at Pioneer Group
Pioneer Group operates several funds that invest in innovative, young businesses. We specialise in pre-seed and seed funding, with a main area of focus on therapeutic platforms, diagnostics, MedTech, drug discovery and development services, and digital health.
When it comes to MedTech investment, we like to get involved early. Companies we have worked with through our Accelerator Programme activity or those based at our sites across the UK, means we get to know the people, technologies and businesses well before investing. But this is by no means a rule of thumb; our team is always on the lookout for exciting opportunities outside our immediate ecosystem.
Our MedTech Investment Team
Heading up our investment team is Glenn Crocker, an experienced chief executive, company founder, non-executive director and investor in the life sciences sector. He leads our investment team of life sciences investors, all of whom have a successful track record of sourcing IP-rich opportunities, leading early-stage deals and consolidating start-ups.
Glenn is joined by Ayokunmi Ajetunmobi – Director of Venture Development, Dr Imelda Juniarsih – Investment Manager, Gemma Sturt – Investment Manager, Filippo Dal Ben – Investment Analyst, Dr Richard Weaver – Venture Partner, and Dr Lisa Thomas – Venture Development Partner.
Supporting the Future of MedTech
NunaBio
Pioneer Group has supported many UK MedTech companies in achieving successful growth, including NunaBio, which we added to our Venture Building Programme earlier this year.
NunaBio is a TechBio company that is pioneering a new era of DNA synthesis that has the potential to revolutionise the synthetic biology industry and fill a gap across key life science markets. Its core expertise is research and development into cell-free DNA synthesis, process optimisation, route design, scale-up and small-scale manufacture for clinical studies.
Headed up by Joe Hedley, PhD, MBA, the company has built a solid reputation for R&D flexibility and having an innovative approach to complex and challenging projects. Its impressive technology gives the company an outstanding chance to scale and find new commercial markets. We look forward to supporting the team in its journey.
NuVision
This year, we also announced a new investment in biotech firm NuVision. Founded in 2015, NuVision manufactures wound dressings from the amniotic membrane, the sac that surrounds babies in the womb, which is then used to aid the regeneration and healing of the eye’s surface. Its first product, Omnigen, is already approved for treatment on the NHS and is used in hospitals and private clinics in the UK and overseas.
Pioneer Group has a long-standing collaboration with the company, having previously provided it with seed funding and tailored accelerator support, and our follow-on investment in NuVision reflects the company’s continued innovations and growth journey. NuVision’s effective solutions for regenerating and healing the eye surface have the potential to become real game-changers in ocular care.
Selentus Science
Pioneer Group has also invested in Selentus Science, a surgical innovator, to support the development of its new surgical haemostat, TenaTac®, an innovative medical device that controls bleeding during a surgical procedure. TenaTac®, also reduces the risk of postoperative haemorrhage.
Selentus is based at BioCity Nottingham and the Pioneer Group investment team has previously invested in and successfully exited Haemostatix, the company Ben Nichols, now CEO of Selentus, formerly led. The investment in Selentus is a perfect example of how our early and ongoing involvement with entrepreneurial ventures provides unparalleled insight into the people, the technology and their chances of success.
Looking for investment?
We’ve already helped countless companies to grow, scale and succeed.