The Mercia Fund launches medical spin-off
Birmingham-based venture capitalist The Mercia Fund has helped form a spin-off company from medical company PsiOxus. The Mercia Fund has ploughed an undisclosed investment into the Native Antigen Company (NAC), which will also be based in Birmingham.
NAC has been formed following a spin-out from PsiOxusNAC. It will be based in Birmingham with research offices in Oxford. The company has its expertise in the isolation and purification of both viral and bacterial native antigens.
Andrew Maxwell, chief executive of NAC, said that there was “a clear gap” in the market for the company.
He said: “Most antigens used in current diagnostic kits are not native and can thus lack the specificity and sensitivity which we offer with our native antigens. Accurate identification of an organism is vital to ensure an effective patient treatment regime. Industry has become reliant on recombinant antigens in part, due to perceived costs savings and ease of manufacture.
Mark Payton, chief executive of Mercia Fund Management, said: "NAC has a tremendous opportunity to improve the performance of diagnostic kits with the supply of native antigen kit components. The business has a strong team and a set of supportive investors that truly understand the industry and market opportunity. We look forward to the continued growth of this business."
