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 2030, 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.
