Oxford Medical Products raises £1.2 million for its weight loss technology, Sirona
by Startacus Admin
Funding secured by Oxford Medical Products to further develop its innovative non-surgical and non-pharmaceutical weight-loss solution
Innovations in weight loss technology took a step further with the news that Oxford Medical Products (OMP) has raised £1.2M in seed investment to develop a safe and affordable weight loss capsule, which uses the same mechanism of action as a gastric balloon, but can be taken at home.
OMP’s non-surgical weight loss technology Sirona, is a self-expanding hydrogel capsule that once swallowed expands in the stomach and occupies space. It is designed to work continuously, reducing hunger and leading to significant weight loss.
The capsules stay in the stomach for a prolonged period of time, so it is effective 24/7 and lasts several weeks before breaking down gradually and passing naturally over time, ensuring safety. The capsules expand rapidly in the stomach resulting in a feeling of satiety.
Unlike a gastric balloon, which has to be placed endoscopically in a hospital, Sirona can be used at home. And whilst current surgical solutions for weight loss start at around £4k per treatment. OMP will bring Sirona to the market at a fraction of this cost allowing millions of people with excess weight to access an effective and safe solution.
The startup will use the funding to complete pre-clinical testing, upscale and outsource manufacturing and grow the team. The funding was led by Ada Ventures with Selvedge Venture alongside several angel investors including Dr Nick Edwards, a founder of the company, and Dr Jan Hruska, co-founder of Sophos.
Dr Camilla Easter, CEO of Oxford Medical Products, said, “Weight gain is preventable but, despite over a hundred years of attempts, no universally safe and effective non-surgical weight-loss solution has been found. All successful solutions involve surgery which is costly and invasive. Treatments that are low cost and widely available, historically have poor results, with little or no lasting weight loss for the average person. Oxford Medical Products is here to change this and to hand millions the power to achieve a healthy weight.”
Check Warner, Founding Partner of Ada Ventures commented, “At Ada Ventures we are looking to fund bold, ground-breaking ideas which could positively impact billions of people in big markets. Excessive weight is undoubtedly one of the biggest health challenges we face as a society and is accelerating rapidly. Current ‘treatments’ for obesity are short term and ineffective or are not widely available and carry unnecessary risk. We are delighted to have led this fundraising round to bring Sirona to market and we look forward to supporting the company through the next phase of development."
It’s a fascinating innovation that could benefit so many people. This is most certainly one to watch!
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Published on: 24th March 2021
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