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30 January 2013

Back pain relief innovators secure investment from The North West Fund for Biomedical

Press Release 30th January 2013

The North West Fund for Biomedical, managed by SPARK Impact, has invested £125,000 in medical devices company LumbaCurve International Ltd.

LumbaCurve International Ltd, which is due to relocate to the biomedical cluster at Liverpool Science Park, has developed a patented device designed to provide relief to sufferers of lower back pain.

The North West Fund for Biomedical is part of the wider £155m North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.

The investment will be used by LumbaCurve for both market development and a clinical effectiveness study, which will be carried out by the University of Central Lancashire's state of the art Movement Analysis Laboratory.

Positive trial results will not only substantiate existing user testimonials, but will provide the medical credibility required to give LumbaCurve access to healthcare professionals, NHS sales, overseas distribution channels and retailers.

David Pegg, director of LumbaCurve, said: "We're really pleased to have received this investment from SPARK, having struggled to raise finance from the usual channels.

"Although LumbaCurve has demonstrated time and time again that it works for back pain sufferers, we need to establish empirical evidence of its effectiveness in the treatment of back pain. We hope this could open up potential opportunities to the worldwide healthcare market, which is looking for a back pain relief product that works."

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said: "Back pain is an endemic problem in western society with an estimated 40 per cent of adults experiencing the problem.

"LumbaCurve is an exciting product, which may have a genuine impact not only on how we treat lower back pain in the UK, but globally."

LumbaCurve is The North West Fund for Biomedical's 31st investment to date.

 


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