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PulmoBioMed Wins National Life Science Competition
Newly launched Northumbria University spinout PulmoBioMed has been handpicked as the winners of Onyx Health s ThinkBig competition
Healthcare marketing communications agency, Onyx Health, have chosen innovative MedTech spinout PulmoBioMed as the winner of their £5,000 #ThinkBig competition, designed to help life science companies bounce back from the COVID-19 crisis.
Having been chosen as the lucky winner of the competition, PulmoBioMed will receive £5,000 of Onyx Health’s full range of specialist healthcare communications support for free, helping them achieve commercial success and access key target markets. #ThinkBig is aimed at innovative start-ups and SMEs in the health and life science sectors, who are at the cutting edge of the industry and can bring something distinctive to the market.
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The business boosting fund, managed by Northstar Ventures, has completed its first two investments which, as part of a wider funding round with other investors, saw two spinouts raise a total of £1,850,000. The fund was officially launched earlier this year to make substantial investments into spin-out businesses with high growth potential, and to attract investors from outside the North East.Â
One of the first businesses to receive investment was AMLo Biosciences, a Newcastle University spin-out developing diagnostics for early-stage skin cancer. The company received a total investment of £1.5 million, £400,000 of which came directly from the Seed Investment Fund. They will use the cash boost to enable a market launch in the UK and prepare for international expansion with the commercialisation of their new melanoma test AMBLor in the USA and Australia in 2021.