Sandwich, Kent, UK, 17th January 2023 / Sciad Newswire / Discovery Park Ventures (DPV) announces an investment of £100K into Vox Imaging Technology Ltd. (VIT), an ambitious ophthalmic technology company looking to transform eye imaging in preclinical research and improve drug discovery and development. Its compact and customisable instrument is believed to be the first scanning laser ophthalmoscope especially designed for laboratory use, able to produce high-quality data rapidly. Vox Imaging is the eighth investment from DPV’s first fund.
Prevalence of diseases of the eye (such as age-related macular degeneration) and conditions in which the eye may be affected (such as diabetes) is increasing as the population ages. The resultant demand for new and better medicines for these conditions is helping to drive the global drug discovery market, expected to be worth over US $120 billion by 20301, and the need for new research instruments such as the VoxOne scanning laser ophthalmoscope.
Vox Imaging Technology was founded in 2021 by Peter West and Alan Robinson, who have extensive experience in developing innovative ophthalmic imaging systems from roles in industry and academia. Discovery Park Ventures (DPV) recognised the VIT team’s expertise in this high potential market and the advantages its technology offers over existing products.
The investment will enable the company to move into new premises at Discovery Park and will facilitate the completion of a working prototype and proof of concept testing prior to launch in 2025. The majority of customers are expected to be pharmaceutical and biotech companies or contract research organisations. Following the investment, DPV Director Dr Martino Picardo joins the company as Interim Chairman while fellow DPV Director Emma Palmer Foster joins Vox Imaging as Investor Director.
Peter West, Chief Technology Officer and Founder, Vox Imaging Technology, said: “We’re gratified that Discovery Park Ventures recognised the potential impact of accurate ophthalmic imaging in early-stage research. Not only will their investment help to drive the development of our technology, but Discovery Park also offers the ideal location for us to grow the business with high-specification facilities, access to a wide network of potential partners and advisors, and a strong academic research community on our doorstep.”
Mayer Schreiber, Chairman of Discovery Park Ventures, commented: “High resolution, easy to use preclinical ophthalmic imaging will facilitate progress towards new treatments for eye-related diseases. We’re excited to invest in such a promising business that already calls Kent home and are pleased to welcome the team to Discovery Park.”
DPV was set up by Discovery Park in 2022 to invest in promising, fast-growing life-science companies. The fund recently expanded to £3m and has plans to expand up to £25m in the next three years. DPV invests in novel and disruptive technologies related to Discovery Park’s areas of focus and investee companies have strong collaborative relationships with Discovery Park.
1The global drug discovery market was valued at USD 59,922 million in 2021. It is expected to reach USD 120,809 million by 2030, growing at a CAGR of 9.16% during the forecast period (2022–2030). (BioSpace data)
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Notes for Editors
About Discovery Park Ventures
Discovery Park Ventures (DPV) is an early-stage life sciences investment fund launched by Discovery Park to invest in novel and disruptive technology related to Discovery Park’s areas of focus. Established in 2022 with £1m of private investment, DPV expanded to £3m in 2023, with plans to expand to up to £25m. Investee companies have strong collaborative relationships with Discovery Park or may be a tenant. These companies include Vitarka Therapeutics, VisusNano, Booby Biome, Neobe Therapeutics, Ignota Labs, Optceutics, Oxford Medical Products and Vox Imaging Technology.
About Discovery Park
Discovery Park is a thriving life science community for visionary entrepreneurs and leaders and the ideal environment for businesses to start, scale and succeed. We offer state-of-the-art labs, modern offices and manufacturing facilities, unrivalled flexibility and comprehensive support including access to finance and a strong local talent pool. Within easy reach of London, Discovery Park spearheads Kent’s flourishing science and technology cluster. As an extension of the Golden Triangle, our location provides access to a wealth of resources and opportunities coupled with an enviable quality of life.
Discovery Park has been a major centre for life science for nearly 70 years and is home to 160+ companies across a growing tenant community of dynamic start-ups through to global corporations. This includes Algaecytes, Canterbury Christ Church University, Concept Life Sciences, eXroid, Genea Biomedx, LGC, Pfizer, Psyros Diagnostics, Salvensis, Viatris, VisusNano and Wren Healthcare.