Tech transfer partnership between universities creates company to transform care for millions of women
18th July 2024
Amber Therapeutics successfully closed Series A funding of $100 million (£80 million) from leading healthcare and technology investors in the US and UK.
Amber Therapeutics (Tx), a start-up involving the University of Oxford, has just completed a $100 million Series A funding round from healthcare and technology investors in the US and UK to develop treatment for mixed urinary incontinence.
The latest financing – one of the largest Series A rounds ever in Europe for a medical technology company – was led by New Enterprise Associates (NEA) as part of a syndicate of new investors F-Prime Capital, Lightstone Ventures and Intuitive Ventures, alongside existing investors Oxford Science Enterprises and 8VC.
Co-founders of the company include Queen Mary University of London (QMUL), the University of Antwerp, and Antwerp University Hospital, with support provided by Oxford University Innovation (OUI) throughout the process.
Professor Tim Denison, Co-founder and Chief Engineer at Amber Tx said: “Our platform enables efficient prototyping and evaluation of adaptive therapies. These results could significantly improve patients’ quality of life. The success of the Amber-UI therapy highlights the importance of partnerships between academic institutions and industry. Oxford University Innovation has been instrumental in bridging the gap, enabling us to translate groundbreaking research into practical, life-changing therapies for patients.”
All four universities participated in the Series A funding round – a collaborative effort which highlights the tremendous potential that arises from combining expertise, resources, and innovative thinking. The partnership between the institutions also exemplifies the power of academic collaboration in driving forward groundbreaking advancements in healthcare technology.
Benedicte Menn, Senior Investment Manager at OUI, reflected on the journey: “Securing this level of investment is a strong validation of Amber’s groundbreaking technology and the collaborative effort that went into building the company. Leading the discussion on behalf of the academic institutions in the Series A round demonstrated the importance of a unified approach in driving innovation forward.”
Sarah Deakin, Principal Licensing & Ventures Manager at OUI, emphasised the significance of this collaboration: “Amber Therapeutics is a testament to the incredible potential that can be realised when leading universities join forces. Our partnership with QMUL, the University of Antwerp, and Antwerp University Hospital showcases the collaborative effort required to translate cutting-edge research into a company that can make a real difference in patients’ lives.”
Charles Knowles, Chief Medical Officer, Amber Tx and Professor of Surgery at QMUL, said: “The success of Amber illustrates the power of therapeutic need driving innovation – the founding team’s inclusion of two working specialist clinicians has maintained focus on the key outcome – a treatment that will work for real patients with very real problems in the real world.”
Amber-UI is the first implantable therapy for mixed urinary incontinence (MUI) that is designed to stimulate the pudendal nerve through a new, minimally invasive procedure. The raised funding will be used to support Amber-UI’s development and clinical trials as it seeks approval in the US.
Urinary incontinence (UI) is a serious condition that affects millions of women worldwide. Many of these women suffer from both urge incontinence (sudden, uncontrollable leaks) and stress incontinence (leaks during physical activity). Currently, there is no single treatment that addresses both types of these mixed urinary incontinence (MUI) symptoms.
Stefan De Wachter, Professor of Urology at Antwerp University and Co-founder of Amber Therapeutics, said: “This investment further expands the existing collaboration between engineers and physicians to deliver state of the art, applied technologies that not only enable physicians to continue to improve treatments toward restoring normal function, but also does it in a field where there is currently no single treatment available for mixed urinary incontinence.”
Find out more: https://www.amber-tx.com/#news
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