Phase Focus Limited is pleased to announce that it has raised £3.2 million in an equity based funding round, to accelerate revenue generation of its revolutionary imaging and microscopy technology – the Phase Focus Virtual Lens®.
Ombu Group, a new UK investment company, invested £3 million, and Fusion IP plc, the university commercialisation company which turns university research into business, invested £220k.
The Phase Focus Virtual Lens® is redefining imaging and microscopy by eliminating the limitations and imperfections of conventional lenses, and by revealing with high fidelity and accuracy an additional dimension of information about the specimen that is otherwise usually hidden. The Virtual Lens technology transfers the task of image-creation from a lens to a sophisticated computer programme. It can be integrated inside existing microscopes, and can also be used as the basis for next-generation microscopy products. Currently being used for the analysis of specimens that are conventionally difficult to measure, such as transparent soft contact lenses and unstained living cells, the Virtual Lens is also expected to revolutionise the viewing of atomic-scale features that are beyond the limit of today’s most powerful electron and X-ray microscopes.
This new investment will allow Phase Focus to accelerate the commercialisation of its technology across its existing application areas as well as invest in R&D to develop new tools and applications.
Commenting on the investment, Ian Pykett, CEO of Phase Focus, said: “We are delighted to welcome such a prestigious new investor and the skills and experience that Ombu will bring to our management team. This substantial new investment recognises the successes we have had in generating revenues and commercial traction in the markets we have already entered. More importantly, it allows us not only to grow these current opportunities more rapidly, but also to exploit several new technology developments, and to address in parallel a number of new markets to which we believe our technology will bring great user value.”
Stephen Brooke, CEO of Ombu Group added: “This is a fantastic opportunity for us to partner with a company with remarkable technology that has just broken through into its full commercial phase. We had tracked Phase Focus for a few years before now and had always been amazed by the technology, so it is great to be able to back a team we have seen deliver and support them as they seek to grow their business. We really look forward to working closely with Ian, his talented team and Fusion IP along with the company’s other existing shareholders to build on the great work they have done over the last few years.”
David Baynes, CEO of Fusion, said “This is a step change for Phase Focus and one that will transform commercialisation of the company’s revolutionary technology. The development of nanotechnology applications requires the ability to analyse and visualise at the atomic scale, and the Phase Focus Virtual Lens has the potential to meet this market need and become a truly disruptive imaging technology, bringing greater fidelity, accuracy and magnifying power to bear in manufacturing industries as diverse as life sciences and semiconductor fabrication.”
For further information, please visit www.phasefocus.com or contact:
Ian Pykett, CEO Tel: +44 (0)7985 042 392
About Phase Focus: www.phasefocus.com
Phase Focus Limited, based in Sheffield UK, is commercialising a disruptive lensless imaging technology (the Phase Focus Virtual Lens®) which uses a proprietary mathematical algorithm to generate images from the diffraction pattern generated by an illuminated beam on transmission through or reflection from a specimen. Applicable to the full electromagnetic spectrum as well as to electron and other particle waves, the Virtual Lens has been demonstrated in a broad range of applications from life sciences to electron microscopy to semiconductor and ophthalmic lens metrology.
About Ombu Group: www.ombugroup.com
Ombu is a UK investment company that partners with outstanding business leaders to help them build world-class, advanced technology businesses. Ombu provides capital and management support to fast-growing companies in the fields of industrial technology, energy technology and water technology.
About Fusion IP: www.fusionip.co.uk
Fusion IP plc (Fusion) was established in 2002 to commercialise university-generated intellectual property. It has long-term exclusive agreements with two of the UK’s leading research-intensive universities, the University of Sheffield and Cardiff University, giving it exclusive access to all the IP generated by their research departments. These exclusive agreements enable Fusion to identify world class IP and turn it into a commercial opportunity, either through the creation of a start-up company or a license.