Healthcare

A new generation of MRI technology developed by scientists at the University of Nottingham for disease monitoring via blood flow measurement has received Food and Drug Administration (FDA) clearance.

The new Arterial Spin Labelling (ASL) MRI software is being commercialised by the university’s spin-out company Quantified Imaging following its development by Professor Michael Chappell’s research group at the Sir Peter Mansfield Imaging Centre (SPMIC) – the birthplace of MRI at the University of Nottingham.

“This approval means the world’s leading software for analysing ASL MRI in scientific research is now available for clinical use. This is a major milestone for Quantified Imaging and we will now build upon this foundation towards our ultimate objective of enabling precision medicine in dementia treatment.”
Michael Chappell, Professor of Biomedical Imaging, School of Medicine

Understanding blood flow is crucial to diagnosing and treating multiple brain diseases such as dementia and stroke. Both the speed and amount of blood delivery reveal information about disease. For example, low blood delivery is typical of many dementias, whereas slow blood delivery can indicate vascular disease. The new software, which is compatible with the majority of existing MRI scanners, analyses scans to provide rapid whole-brain measurements of blood flow, which in turn allows doctors to monitor disease progression and how patients are responding to treatment.

ASL MRI uses the magnets within the MRI scanner to “label” blood flowing through the arteries of the neck and then track its delivery throughout the brain. By comparison, existing techniques for measuring blood flow use contrast agents or radioactive tracer compounds which means they are costly and cannot be used on vulnerable patients. The key benefit of ASL is that it doesn’t expose patients to the risks associated with contrast agents or tracers, making it safe and accessible for all patients as part of routine brain imaging.

Although not the first time ASL MRI has been available for clinical use, Quantified Imaging’s new software incorporates advanced technologies such as Bayesian inference and automatic quality control to more accurately and robustly measure blood flow than existing products currently on the market. This will give clinicians greater confidence in adopting ASL MRI as part of routine care. FDA clearance for the new software means the company can start commercial sales in the US in early 2027, opening this new development up to millions of patients in a clinical setting for the first time, with plans for a roll out to the UK at a later date.

Quantified Imaging’s next objective is to further develop this technology into a tool for optimising patient selection for new dementia treatments, starting with anti-amyloid treatments for Alzheimer’s disease. Though these treatments have the potential to slow cognitive decline, not all patients respond well to them, and they are very complex to administer. At present, QI’s software is already used in a number of clinical trials and US pilot studies. Preliminary results, which are being presented at the Alzheimer’s Association International Conference starting in London this week, indicate ASL MRI can spot which patients are responding well to treatment, thereby helping doctors manage this entirely new class of treatments.

This news also coincides with the completion of an oversubscribed seed funding round for Quantified Imaging.

Cerca Magnetics, a UK-based quantum brain scanner developer, has raised £3.8 million ($4.75 million) in Series A funding at a £30 million post-money valuation to expand into clinical healthcare markets.

The round was led by Guinness Ventures.

A spin-out from the University of Nottingham School of Physics and Astronomy, Cerca Magnetics has developed a wearable brain scanner that uses quantum sensors to measure neural activity with high precision. The funding will support clinical approval, manufacturing scale-up and international expansion.

Its system is based on magnetoencephalography, which detects tiny magnetic fields generated by electrical activity in the brain. Cerca Magnetics replaces traditional fixed scanners with lightweight wearable sensors known as optically pumped magnetometers. These let patients move naturally during scans, allowing brain imaging on infants for the first time. This makes the benefits of brain imaging significantly more accessible to children.

The Cerca Magnetics technology is being applied to conditions including epilepsy, multiple sclerosis and dementia. It is progressing through clinical approval pathways in the UK and the United States.

The company has sold 19 systems to neuroscience centres in 12 countries, including leading institutions in North America, Europe, Asia and Australasia. Cerca Magnetics has delivered annual sales growth of more than 100 per cent over the past three years.

Customers include The Hospital for Sick Children (SickKids), Toronto, where researchers are using the system to study autism; and a £2.8 million UK Ministry of Defence project to develop a mobile platform for assessing the effects of blast exposure on military personnel.

David Woolger, Chief Executive Officer and co-founder of Cerca Magnetics, said:
“This investment enables us to move decisively into clinical applications, scaling our technology for routine use in hospitals in the UK and internationally. Our goal is to make advanced brain imaging more accessible, supporting earlier diagnosis and better treatment of neurological conditions.”

Ashley Abrahams, Head of Origination, Guinness Ventures, said: “Cerca Magnetics is addressing a clear unmet need in brain imaging with a technology that combines scientific depth with affordable real-world usability. We believe the company is well positioned to become a global leader in next-generation neuroimaging and are pleased to back David and the team on the next stage of Cerca’s already impressive journey.”

About Cerca Magnetics
Cerca Magnetics is a UK-based medical technology company developing wearable brain imaging systems using quantum sensing technology. Founded in 2020, the company works with research institutions, healthcare providers and government partners worldwide.

www.cercamagnetics.com

About Guinness Ventures
Guinness Ventures is the venture arm of Guinness Global Investors, a London-based asset manager with approximately £8 billion under management. Led by CEO Shane Gallwey, the team focuses on backing high-growth UK scale-ups at Series A through EIS and VCT structures. Since 2010, Guinness Ventures has invested over £350 million into more than 200 companies across sectors including healthcare, software, and consumer brands. The portfolio includes businesses such as Cera Care, PlotBox and BibliU, alongside notable successful exits including Pasta Evangelists (Barilla), ContentCal (Adobe) and Imagen (Thomson Reuters). Guinness Ventures is an Appointed Representative of Guinness Asset Management, which is authorised and regulated by the Financial Conduct Authority.

www.guinnessventures.com

Forge Genetics have finalised a significant licensing deal with AbbVie, a global biopharmaceutical company. The contract, comprising an upfront payment followed by development milestone payments, permits an exclusive licence for the use of Forge Editing in a limited field. Where other genetic tools had proved to be ineffectual in the engineering of the desired target, Forge Editing excelled in proof-of-concept and preceding projects. 

“The deal represents a considerable validation of the team’s hard work and a strong endorsement of our technology. We’ve developed a new way of modifying genomes and though we’ve been using it internally for two years already, this deal confirms that other organisations find this to be a valuable genetic tool.” Craig Woods, CEO Forge Genetics.

Forge Editing has been successfully implemented in difficult-to-engineer, non-model organisms, outperforming other genetic tools in programmability, precision and efficiency. The molecular means by which Forge Editing directs mutagenesis is fundamentally less burdensome to host cells than Cas9 based systems, enabling higher efficiencies of transfer and maintenance, facilitating strain creation. The Forge technology bears the potential for wide scope of application across diverse biological systems, with Forge having recently filed a patent for the use of Forge Editing in mammalian cells.

Forge are looking for cases of difficult-to-engineer organisms and diverse cell types from across the domains of life for proof-of-concept work and subsequent projects to further exhibit the potential of Forge Editing.

Forge Genetics provides contract research services for the production of genetically modified organisms, non-GM strain development with advanced screening methodologies and specialised fermentation and analytics. 

Forge offers proof-of-concept projects with an option to licence exclusivity of Forge Editing within a limited field relevant to the client. 

Release and image courtesy of Forge Genetics.

NuVision Biotherapies, the Nottingham-based eye care spin-out, has raised £4.8m in a funding round led by the Midlands Engine Investment Fund II through fund manager Mercia Ventures.

The round also included investment from the University of Nottingham and Pioneer Group. Mercia Ventures and the Midlands Engine Investment Fund II have backed the business since its inception, providing earlier funding rounds in 2023 and 2024.

NuVision develops products that use amniotic membrane tissue to support wound healing following eye surgery and to treat conditions including ulcers, burns, glaucoma and infections. The tissue is sourced from women undergoing elective Caesarean procedures and processed at the company’s Nottingham manufacturing facility.

The company’s first product, Omnigen, was designed for use in operating theatres. A later product, OmniLenz, a specialist contact lens, allows amniotic membrane to be used without surgery, extending treatment into opticians’ practices and outpatient clinics.

NuVision now supplies more than 160 NHS centres and private clinics across the UK, including Moorfields Eye Hospital, as well as clinics in 12 countries across Europe, Scandinavia and the Middle East.

Following a successful clinical trial, a combination of Omnigen and OmniLenz is now being used to treat dry eye disease. The latest funding will be used to scale the business, increase manufacturing capacity and support expansion into further international markets.

The company was founded in 2015 by Dr Andy Hopkinson, based on research carried out at the University of Nottingham. Its proprietary process preserves the healing properties of amniotic tissue while allowing products to be stored at room temperature for extended periods.

Noel Waters, Chief Operating Officer at NuVision, said: “This round of funding will enable the proven benefits of treatment with amniotic membrane to be made available to those patients with damage to their eyes caused by traumatic injury or following eye surgery. Our goal is to see treatment using our products become a global standard of care in ophthalmology and optometry.”

David Tindall, senior investment manager at the British Business Bank, said the investment reflected the fund’s purpose. “Seeing NuVision return to secure more funding after its successes is a testament to what the fund stands for,” he said.

Hannah Tapsell Chapman of Mercia Ventures said the business had made significant progress in recent years, adding: “This latest funding will enable it to continue building momentum and scale up manufacturing.”

Shakespeare Martineau advised Mercia Ventures on the deal.

University of Nottingham spin-out, Cerca Magnetics has been placed at 15 in the highly regarded Sunday Times 100 Tech 2026, which ranks Britain’s fastest-growing private technology companies.

The University of Nottingham spinout, which developed and sells some of the world’s most advanced instrumentation for human brain imaging, is included for increasing sales nearly 107 per cent annually for the last three years.

Sales of Cerca’s lightweight wearable brain scanner reached £6.4m in 2024. The scanner interrogates neural activity with unprecedented accuracy. It can be used to probe conditions such as epilepsy, multiple sclerosis and dementia.

“This important recognition comes as we grow our global market and expand the range of applications that our technology can impact. The Cerca scanner is without peer, combining technological advances with engineered robustness and affordability, to transform neuroscientific knowledge.”
David Woolger, CEO of Cerca Magnetics

The company has sold its systems to leading neuroscience centres in 12 countries, with customers in north America, Europe, Asia and Australasia. The scanner is currently on the approval pathway for clinical use, including in the UK and USA. It is being used by clinicians based at Gt Ormond Street Hospital as part of a major research project into epilepsy.

The Cerca Magnetics OPM-MEG scanner uses the principles of magnetoencephalography (MEG), which measure neural activity via detection of magnetic fields produced by electrical currents in the brain.

These fields are measured using newly developed quantum sensors called optically pumped magnetometers (OPMs). The sensors are lightweight and integrated into a wearable “helmet” that moves with the head. This makes it possible to study brain activity in people as they move naturally and carry out everyday tasks. The wearable system is also adaptable to scan children.

Data from the scanner show neurons firing in real time, which will also benefit research into concussion. Cerca was recently awarded a £2.8m contract to develop and build the world’s first mobile OPM-MEG scanner for the UK Ministry of Defence where it will be used to assess blast exposure on military personnel.

“Quantum technologies have revolutionised what is possible with brain imaging. Ten years ago, measuring MEG signals in people as they move around freely, whilst wearing what is essentially a hat, seemed like science fiction. Now, it’s possible and opening up new worlds of research, particularly related to the developing brain in the early years of life.”
Cerca co-founder and University of Nottingham Professor of Physics, Matthew Brookes

Cerca Magnetics was founded in 2020 with support from the UK National Quantum Technologies Programme.

Shard Diagnostics has become the latest company to join the University of Nottingham’s investment portfolio, supported through Nottingham Technology Ventures – the university’s wholly owned subsidiary responsible for managing its spin-out portfolio and related investments.

This milestone further strengthens the university’s commitment to fostering innovation and driving economic growth across the region. With a portfolio of nearly 40 companies – including 25 launched in the past seven years – the university plays a pivotal role in supporting early-stage ventures.

Alice MacGowan, CEO of Nottingham Technology Ventures, said: “We’re delighted to welcome Shard Diagnostics into our investment portfolio. The company exemplifies the type of high-impact, research-driven innovation we are committed to supporting – transforming world-class scientific expertise into technologies that can meaningfully improve outcomes. We look forward to supporting their growth as they scale their platform and expand their commercial reach.”

Through strategic investments, the university is helping to accelerate growth, bring transformative technologies to market, and contribute significantly to regional economic development. Shard Diagnostics is the latest venture to join this thriving ecosystem, where pioneering research is translated into real-world impact.

Based at BioCity Nottingham, Shard Diagnostics is developing next-generation technologies for detecting biological analytes in several fields including Oncology, Infectious Diseases, Point-of-Care testing, Molecular Biology Research, Veterinary, Agriculture and Forensics. The alumni-led company is headed by Dr James Hassall (CEO) and Dr Declan Sculthorpe (COO), who both completed post-graduate degrees and post-doctoral research at the University of Nottingham.

Speaking about what this means for Shard Diagnostics, Dr James Hassall, said: “The investment arrives at an exciting time for us, as we recently launched our new website and product ranges across several verticals. We are looking to fully utilise this investment to catapult us into the commercial space and expand our offerings with our established platforms. The support from University of Nottingham and Nottingham Technology Ventures thus far has been invaluable, and both Declan and I are confident that this continued collaboration will aid us in our long-term success.”

Shard Diagnostics also benefits from the involvement of Professor Mohammad Ilyas, Professor of Pathology from the Faculty of Medicine and Health Sciences at the University of Nottingham. Acting as a clinical advisor, Professor Ilyas brings a wealth of knowledge on the practical demands of developing molecular tests combined with cutting-edge translational academic research.

Professor Ilyas, said: “Shard Diagnostics represents exactly the kind of translational pathway from innovation to clinical implementation that we strive to nurture at the University of Nottingham. Working with them will be a natural extension of my current work aimed at developing solutions for Oncology and advancing testing in the APAC and EMEA regions. It’s particularly exciting to guide the cutting-edge qPCR platform for liquid biopsy testing which will enable affordable longitudinal cancer testing that is so desperately needed.”

Looking ahead, Shard Diagnostics is poised for significant growth as it continues to expand its product offerings and strengthen partnerships within the healthcare and life sciences sector and beyond. With the backing of Nottingham Technology Ventures and the continued collaboration with the University of Nottingham’s expert researchers, the company is well-positioned to make a lasting impact on molecular diagnostics, helping to accelerate scientific discovery and improve patient outcomes worldwide.