IP Group

IP Group, established in 2001 and headquartered in London, specializes in commercializing intellectual property from research-intensive institutions. The company's core business involves identifying promising IP, managing its development, and creating value through either building businesses or forging strategic partnerships. IP Group's success stems from its deep expertise in IP management, combined with insights into both industry and finance, consistently delivering strong results for its companies, partners, and shareholders.

Alan Aubrey

CEO, Executive Director and Member of the Board of Directors

Dani Bach

Partner, Life Sciences

Jon Edington

Partner, Technology

Kelsey Lynn

Partner, Technology Venture Capital

Ben Murphey

Investment Director

Mark Reilly

Managing Partner, Technology

Greg Smith

CEO and Board Member

Lee Thornton

Partner, Technology

Robert Trezona

Partner and Head of Cleantech

Ben Murphy

Investment Director, Kiko Ventures

Past deals in Medical Devices

Alimetry

Series A in 2024
Alimetry is a health technology startup located in Auckland, New Zealand, focused on creating innovative solutions for diagnosing gastrointestinal (GI) disorders. The company has developed a symptom-tracking and real-time gastric mapping monitoring device that investigates gastric function. This device senses the underlying motility of the stomach to identify the causes of common symptoms such as abdominal pain, indigestion, nausea, and vomiting. By providing insights into GI health, Alimetry aims to enhance patient care and improve the management of gastrointestinal disorders.

Alesi Surgical

Venture Round in 2024
Alesi Surgical Ltd. is a company based in Cardiff, United Kingdom, specializing in the development and commercialization of laparoscopic surgical smoke handling systems. Founded in 2009 as a spin-out from the Welsh Institute for Minimal Access Therapy, Alesi Surgical focuses on creating products that enhance the safety, efficiency, and outcomes of surgical procedures. Its innovative tools are portable and suitable for both laparoscopic and robot-assisted surgeries, utilizing electrostatic precipitation technology to eliminate surgical smoke and maintain a clear visual field during operations. The company distributes its products to hospitals across Europe, the Middle East, New Zealand, and Australia, leveraging its access to experienced surgeons and surgical trainers to identify challenges in surgical procedures and design effective solutions.

Crescendo Biologics

Venture Round in 2023
Crescendo Biologics Limited is a clinical-stage biotechnology company based in Cambridge, United Kingdom, specializing in the development of innovative therapies for oncology and dermatology. The company focuses on creating multi-specific immune-oncology modulators and Humabody Drug Conjugates using its proprietary transgenic mouse platform. This technology allows for the in vivo maturation of human VH domains, optimizing their affinity and biophysical properties for therapeutic use. Crescendo Biologics aims to address critical challenges in generating high-affinity, soluble human VH antibody fragments, which are recognized for their potential as effective therapeutics. By leveraging its advanced platforms, the company is engaged in the product development of in-house targets as well as collaborations with other organizations to enhance the efficacy of cancer treatments. Founded in 2007 and originally known as Translocus Limited, Crescendo Biologics has established itself as a leader in the field of next-generation antibody therapeutics.

Nexeon

Series D in 2022
Nexeon Limited is a battery materials and licensing company specializing in the development of silicon anodes for lithium-ion batteries. Founded in 2006 and headquartered in Abingdon, United Kingdom, with an additional office in Yokohama, Japan, Nexeon focuses on providing innovative silicon-based anode materials that enhance energy density and battery capacity. Its technology is applicable across various industries, including consumer electronics, electric vehicles, sustainable energy, aerospace, medical, and defense. By enabling lighter and more efficient batteries, Nexeon's solutions contribute to improved performance and longer lifetimes between charges, supporting the transition to sustainable energy and the achievement of net-zero goals. The company boasts a multidisciplinary technical team with diverse expertise, dedicated to advancing battery technology for a range of consumer and commercial markets.

GripAble

Series A in 2022
GripAble Ltd. is a London-based company founded in 2017 that specializes in the development of digital therapy devices aimed at improving rehabilitation for individuals with movement impairments. The company’s flagship product, the GripAble Digital Handgrip, is a sensitive, portable device that wirelessly connects to a mobile application. This app allows users to engage in interactive therapy games designed to facilitate the assessment and training of hand and arm functions. GripAble's solutions target patients suffering from conditions such as stroke, arthritis, cerebral palsy, and trauma, addressing the challenges faced by over 500 million people globally who experience impaired arm mobility. By combining hardware with gamified therapy, GripAble enhances patient engagement and enables effective self-training both in clinical settings and at home.

Aptatek Biosciences

Seed Round in 2022
Aptatek Biosciences Inc specializes in the development of portable medical devices for the management of Phenylketonuria (PKU), a genetic disorder that affects metabolism. Based in Princeton, New Jersey, the company utilizes advanced sensor technology to provide real-time monitoring of phenylalanine levels in patients. Its innovative devices enable users to conduct blood tests on-the-go, facilitating immediate dietary adjustments to maintain phenylalanine levels within clinical target ranges. By leveraging DNA aptamer sequences, Aptatek can detect a variety of small-molecule biomarkers and other health indicators, enhancing the diagnosis and management of PKU and other inborn diseases. This technology aims to improve patient compliance and overall quality of life while streamlining the traditional laboratory analysis process.

Alimetry

Series A in 2022
Alimetry is a health technology startup located in Auckland, New Zealand, focused on creating innovative solutions for diagnosing gastrointestinal (GI) disorders. The company has developed a symptom-tracking and real-time gastric mapping monitoring device that investigates gastric function. This device senses the underlying motility of the stomach to identify the causes of common symptoms such as abdominal pain, indigestion, nausea, and vomiting. By providing insights into GI health, Alimetry aims to enhance patient care and improve the management of gastrointestinal disorders.

Hinge Health

Series E in 2021
Hinge Health, established in 2015, specializes in digital healthcare solutions for musculoskeletal disorders, primarily targeting back and joint pains. The company offers wearable sensor technology, tablet computers, and support services, guiding users through physical therapy and weight loss activities. Their solutions are designed to be accessible and convenient, serving both individuals and businesses. Hinge Health's headquarters are in San Francisco, with additional offices in Chicago, Minneapolis, Portland, and London.

Alesi Surgical

Venture Round in 2021
Alesi Surgical Ltd. is a company based in Cardiff, United Kingdom, specializing in the development and commercialization of laparoscopic surgical smoke handling systems. Founded in 2009 as a spin-out from the Welsh Institute for Minimal Access Therapy, Alesi Surgical focuses on creating products that enhance the safety, efficiency, and outcomes of surgical procedures. Its innovative tools are portable and suitable for both laparoscopic and robot-assisted surgeries, utilizing electrostatic precipitation technology to eliminate surgical smoke and maintain a clear visual field during operations. The company distributes its products to hospitals across Europe, the Middle East, New Zealand, and Australia, leveraging its access to experienced surgeons and surgical trainers to identify challenges in surgical procedures and design effective solutions.

Alimetry

Seed Round in 2020
Alimetry is a health technology startup located in Auckland, New Zealand, focused on creating innovative solutions for diagnosing gastrointestinal (GI) disorders. The company has developed a symptom-tracking and real-time gastric mapping monitoring device that investigates gastric function. This device senses the underlying motility of the stomach to identify the causes of common symptoms such as abdominal pain, indigestion, nausea, and vomiting. By providing insights into GI health, Alimetry aims to enhance patient care and improve the management of gastrointestinal disorders.

IBEX Innovations

Venture Round in 2020
IBEX Innovations Limited, established in 2010 and based in Sedgefield, UK, specializes in developing and commercializing advanced X-ray detector technology. The company's flagship product, IBEX multi absorption plate (MAP) technology, enhances standard X-ray detectors to generate high-sensitivity materials information while retaining key characteristics such as speed, signal-to-noise ratio, spatial resolution, and imaging area. IBEX Innovations serves diverse applications including bone mineral density measurement in medical diagnostics, electronics inspection, food safety, and security screening. The company collaborates with academic institutions like Durham University for technology development and NHS trusts for medical application validation. Backed by venture capital funding from Northstar Ventures, IP Group, Nordson Incorporated, Innovate UK, and the European Commission, IBEX Innovations aims to revolutionize X-ray imaging across various industries.

IBEX Innovations

Venture Round in 2019
IBEX Innovations Limited, established in 2010 and based in Sedgefield, UK, specializes in developing and commercializing advanced X-ray detector technology. The company's flagship product, IBEX multi absorption plate (MAP) technology, enhances standard X-ray detectors to generate high-sensitivity materials information while retaining key characteristics such as speed, signal-to-noise ratio, spatial resolution, and imaging area. IBEX Innovations serves diverse applications including bone mineral density measurement in medical diagnostics, electronics inspection, food safety, and security screening. The company collaborates with academic institutions like Durham University for technology development and NHS trusts for medical application validation. Backed by venture capital funding from Northstar Ventures, IP Group, Nordson Incorporated, Innovate UK, and the European Commission, IBEX Innovations aims to revolutionize X-ray imaging across various industries.

IBEX Innovations

Venture Round in 2018
IBEX Innovations Limited, established in 2010 and based in Sedgefield, UK, specializes in developing and commercializing advanced X-ray detector technology. The company's flagship product, IBEX multi absorption plate (MAP) technology, enhances standard X-ray detectors to generate high-sensitivity materials information while retaining key characteristics such as speed, signal-to-noise ratio, spatial resolution, and imaging area. IBEX Innovations serves diverse applications including bone mineral density measurement in medical diagnostics, electronics inspection, food safety, and security screening. The company collaborates with academic institutions like Durham University for technology development and NHS trusts for medical application validation. Backed by venture capital funding from Northstar Ventures, IP Group, Nordson Incorporated, Innovate UK, and the European Commission, IBEX Innovations aims to revolutionize X-ray imaging across various industries.

Crescendo Biologics

Series B in 2018
Crescendo Biologics Limited is a clinical-stage biotechnology company based in Cambridge, United Kingdom, specializing in the development of innovative therapies for oncology and dermatology. The company focuses on creating multi-specific immune-oncology modulators and Humabody Drug Conjugates using its proprietary transgenic mouse platform. This technology allows for the in vivo maturation of human VH domains, optimizing their affinity and biophysical properties for therapeutic use. Crescendo Biologics aims to address critical challenges in generating high-affinity, soluble human VH antibody fragments, which are recognized for their potential as effective therapeutics. By leveraging its advanced platforms, the company is engaged in the product development of in-house targets as well as collaborations with other organizations to enhance the efficacy of cancer treatments. Founded in 2007 and originally known as Translocus Limited, Crescendo Biologics has established itself as a leader in the field of next-generation antibody therapeutics.

OxSyBio

Series A in 2018
OxSyBio Ltd. is a biotechnology company based in London, United Kingdom, specializing in the development of advanced 3D printing techniques for creating tissue-like and functional tissues intended for medical research and clinical applications. Founded in 2014, the company focuses on innovative methods that utilize three-dimensional networks of lipid monolayer aqueous droplets, which can conduct electrical signals along designated pathways and self-fold into intricate structures. These engineered tissues aim to facilitate organ repair or replacement, supporting precision medicine initiatives. The technology builds upon pioneering research from Professor Hagan Bayley's group at the University of Oxford, emphasizing the integration of chemical and synthetic biology in the field of regenerative medicine.

Oxehealth

Venture Round in 2017
Oxehealth Ltd. is a technology company based in Oxford, United Kingdom, that specializes in non-contact vital signs monitoring. Founded in 2012, it has developed the Oxecam software, which allows for the remote measurement of heart rate, respiratory rate, and blood oxygenation using digital video cameras. This innovative approach is particularly beneficial in medical settings, where it can enhance care for elderly and vulnerable individuals in environments where staff presence is limited. The system generates alerts for risky activities and provides objective data on patient vitals, enabling informed care planning. Oxehealth's technology combines proprietary algorithms that leverage deep learning, computer vision, and signal processing, making it suitable for various sectors, including healthcare, security, and retail. Its Digital Care Assistant supports clinicians and caregivers in mental health facilities, prisons, and home care, facilitating proactive interventions based on real-time data. Oxehealth is recognized for achieving the world’s first medical device certification for its software, demonstrating its commitment to enhancing patient care through innovative technology.

Zilico

Venture Round in 2017
Zilico Limited is a medical diagnostics company focused on developing innovative devices for cancer detection, particularly cervical cancer. Founded in 2006 and based in Manchester, United Kingdom, with an additional office in Sheffield, Zilico utilizes electrical impedance spectroscopy technology to enhance diagnostic accuracy and provide real-time results. Its primary product, ZedScan, is designed to assess cervical epithelial tissue objectively during colposcopy, thereby reducing the subjectivity associated with traditional diagnostic methods. The company is advancing its offerings with two applications aimed at improving referral and screening processes for neoplastic conditions. By enhancing the ability to detect cervical intraepithelial neoplasia, Zilico aims to support healthcare professionals in delivering better diagnostic accuracy and optimizing cancer screening programs.

Creavo Medical Technologies

Series B in 2017
Creavo Medical Technologies Ltd. is a UK-based medical device company focused on developing innovative imaging technologies for acute medical settings. Incorporated in 2014, the company has its headquarters in Coventry and additional facilities in Leeds. Creavo specializes in creating portable, battery-powered devices that utilize magnetocardiography to detect heart-related issues, such as acute coronary syndromes and ischemia, directly at the patient's bedside. Founded by a team of clinical, research, and business experts, the company aims to improve diagnostic techniques and enhance patient outcomes in healthcare settings. Creavo Medical Technologies was previously known as Quantum Imaging Limited before rebranding in September 2016.

Alesi Surgical

Venture Round in 2017
Alesi Surgical Ltd. is a company based in Cardiff, United Kingdom, specializing in the development and commercialization of laparoscopic surgical smoke handling systems. Founded in 2009 as a spin-out from the Welsh Institute for Minimal Access Therapy, Alesi Surgical focuses on creating products that enhance the safety, efficiency, and outcomes of surgical procedures. Its innovative tools are portable and suitable for both laparoscopic and robot-assisted surgeries, utilizing electrostatic precipitation technology to eliminate surgical smoke and maintain a clear visual field during operations. The company distributes its products to hospitals across Europe, the Middle East, New Zealand, and Australia, leveraging its access to experienced surgeons and surgical trainers to identify challenges in surgical procedures and design effective solutions.

Saw DX

Venture Round in 2017
SAW DX Ltd is a technology development company based in Glasgow, United Kingdom, that specializes in designing and manufacturing point-of-care (POC) diagnostic devices. The company leverages innovative Acoustic-Flow technology, which utilizes surface acoustic waves to drive diagnostic tests by manipulating fluid movement and microstructures on disposable chips. This approach allows for on-chip sample processing without the need for preprocessing, streamlining the diagnostic process. SAW DX's product offerings include prototypes for diagnosing sexually transmitted infections, demonstrator readers and cartridges for tuberculosis assays, and platforms for enriching parasites and performing molecular detection with low-cost disposable chips. The company primarily serves life sciences and diagnostics organizations seeking to enhance their diagnostic capabilities through advanced POC solutions. Incorporated in 2013, SAW DX aims to provide faster, more efficient, and cost-effective diagnostic methods for infectious diseases.

Stratium

Seed Round in 2016
Stratium Limited is a manufacturer of mid-infrared quantum cascade lasers (QCL) based in Cardiff, United Kingdom. Established in 2015, the company specializes in providing compound semiconductor lasers to original equipment manufacturers (OEM) for various commercial applications. Stratium's QCLs support critical functions in environmental monitoring, vehicle emission tracking, vehicle collision avoidance, breath diagnostics, and petrochemical process oversight. The lasers are designed to deliver precise mid-infrared emissions essential for advanced gas analysis, utilizing innovative wavelength selection technology that enhances their compactness, stability, and performance. These features make Stratium's products suitable for sensitive detection of molecular species employing techniques such as cavity ring-down spectroscopy, cavity enhanced absorption spectrometry, and photoacoustic spectroscopy, enabling clients to effectively monitor airborne substances.

Azellon Cell Therapeutics

Venture Round in 2015
Azellon Limited is a company based in London, United Kingdom, that specializes in the development and commercialization of a unique tissue repair technology utilizing mesenchymal stem cells combined with a biological scaffold. The company's primary product, Cell Bandage, is designed for the repair of avascular meniscal tears in the knee, addressing a significant issue in orthopedic treatment where surgeons often resort to partial or complete meniscus removal. This conventional approach can lead to osteoarthritic changes in the knee joint over time. Developed by Professor Anthony Hollander, Azellon's technology has demonstrated notable success in in-vitro models over a five-year research period. Established in 2007, Azellon Limited aims to offer a more effective solution for knee injuries that preserves the meniscus and promotes natural healing.

Oxehealth

Venture Round in 2014
Oxehealth Ltd. is a technology company based in Oxford, United Kingdom, that specializes in non-contact vital signs monitoring. Founded in 2012, it has developed the Oxecam software, which allows for the remote measurement of heart rate, respiratory rate, and blood oxygenation using digital video cameras. This innovative approach is particularly beneficial in medical settings, where it can enhance care for elderly and vulnerable individuals in environments where staff presence is limited. The system generates alerts for risky activities and provides objective data on patient vitals, enabling informed care planning. Oxehealth's technology combines proprietary algorithms that leverage deep learning, computer vision, and signal processing, making it suitable for various sectors, including healthcare, security, and retail. Its Digital Care Assistant supports clinicians and caregivers in mental health facilities, prisons, and home care, facilitating proactive interventions based on real-time data. Oxehealth is recognized for achieving the world’s first medical device certification for its software, demonstrating its commitment to enhancing patient care through innovative technology.

OxSyBio

Seed Round in 2014
OxSyBio Ltd. is a biotechnology company based in London, United Kingdom, specializing in the development of advanced 3D printing techniques for creating tissue-like and functional tissues intended for medical research and clinical applications. Founded in 2014, the company focuses on innovative methods that utilize three-dimensional networks of lipid monolayer aqueous droplets, which can conduct electrical signals along designated pathways and self-fold into intricate structures. These engineered tissues aim to facilitate organ repair or replacement, supporting precision medicine initiatives. The technology builds upon pioneering research from Professor Hagan Bayley's group at the University of Oxford, emphasizing the integration of chemical and synthetic biology in the field of regenerative medicine.

Creavo Medical Technologies

Seed Round in 2014
Creavo Medical Technologies Ltd. is a UK-based medical device company focused on developing innovative imaging technologies for acute medical settings. Incorporated in 2014, the company has its headquarters in Coventry and additional facilities in Leeds. Creavo specializes in creating portable, battery-powered devices that utilize magnetocardiography to detect heart-related issues, such as acute coronary syndromes and ischemia, directly at the patient's bedside. Founded by a team of clinical, research, and business experts, the company aims to improve diagnostic techniques and enhance patient outcomes in healthcare settings. Creavo Medical Technologies was previously known as Quantum Imaging Limited before rebranding in September 2016.

Oxehealth

Seed Round in 2012
Oxehealth Ltd. is a technology company based in Oxford, United Kingdom, that specializes in non-contact vital signs monitoring. Founded in 2012, it has developed the Oxecam software, which allows for the remote measurement of heart rate, respiratory rate, and blood oxygenation using digital video cameras. This innovative approach is particularly beneficial in medical settings, where it can enhance care for elderly and vulnerable individuals in environments where staff presence is limited. The system generates alerts for risky activities and provides objective data on patient vitals, enabling informed care planning. Oxehealth's technology combines proprietary algorithms that leverage deep learning, computer vision, and signal processing, making it suitable for various sectors, including healthcare, security, and retail. Its Digital Care Assistant supports clinicians and caregivers in mental health facilities, prisons, and home care, facilitating proactive interventions based on real-time data. Oxehealth is recognized for achieving the world’s first medical device certification for its software, demonstrating its commitment to enhancing patient care through innovative technology.

Azellon Cell Therapeutics

Venture Round in 2011
Azellon Limited is a company based in London, United Kingdom, that specializes in the development and commercialization of a unique tissue repair technology utilizing mesenchymal stem cells combined with a biological scaffold. The company's primary product, Cell Bandage, is designed for the repair of avascular meniscal tears in the knee, addressing a significant issue in orthopedic treatment where surgeons often resort to partial or complete meniscus removal. This conventional approach can lead to osteoarthritic changes in the knee joint over time. Developed by Professor Anthony Hollander, Azellon's technology has demonstrated notable success in in-vitro models over a five-year research period. Established in 2007, Azellon Limited aims to offer a more effective solution for knee injuries that preserves the meniscus and promotes natural healing.

Activiomics

Venture Round in 2011
Activiomics Ltd. is a biotechnology company specializing in biomarker technology and phosphoproteomics solutions aimed at enhancing biomarker discovery and drug candidate profiling. The company has developed a patented mass spectrometry-based technology that facilitates the global quantitative analysis of phosphorylation sites, which are critical mediators of cellular processes. This technology, known as TIQUAS (Targeted In-depth QUAntification of cell Signalling), allows for the quantification of thousands of phosphorylation events from tissue samples. By identifying and quantifying proteins and phosphoproteins that correlate with disease progression and drug administration, Activiomics aims to transform the development of diagnostics and therapeutic strategies.

Azellon Cell Therapeutics

Seed Round in 2009
Azellon Limited is a company based in London, United Kingdom, that specializes in the development and commercialization of a unique tissue repair technology utilizing mesenchymal stem cells combined with a biological scaffold. The company's primary product, Cell Bandage, is designed for the repair of avascular meniscal tears in the knee, addressing a significant issue in orthopedic treatment where surgeons often resort to partial or complete meniscus removal. This conventional approach can lead to osteoarthritic changes in the knee joint over time. Developed by Professor Anthony Hollander, Azellon's technology has demonstrated notable success in in-vitro models over a five-year research period. Established in 2007, Azellon Limited aims to offer a more effective solution for knee injuries that preserves the meniscus and promotes natural healing.

Cerogenix

Seed Round in 2005
Cerogenix is a drug discovery and diagnostics.
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