A new high accuracy, low cost infusion pump that is 'set to revolutionise' the medical devices market, and also has a range of applications in laboratories, has attracted £250,000 funding
A new high accuracy, low cost infusion pump that is set to revolutionise the medical devices market, and also has a range of applications in laboratories and the food and chemicals industries, has attracted £250,000 funding from the Capital Fund, a £50 million venture capital fund that invests in fast-growth companies in Greater London.
The patented infusion pump, known as Secta, was designed by PDD Innovations, an innovation consultancy that has funded development work on the device prior to this first round of institutional finance.
Secta uses an innovative rotary mechanism to achieve the continuous flow of liquids pumped through it.
The new mechanism is highly accurate, as it is not sensitive to pressure and temperature effects, and it is also significantly more cost-effective than existing peristaltic, syringe and diaphragm pumps on the market.
The Secta pump has one moving disposable part, which can be easily replaced, whereas conventional pumps can have many moving parts, which are highly toleranced and subject to wear, making maintenance difficult and costly.
PDD Innovations is currently developing Secta for use in intravenous infusions (drip lines) and is conducting technical trials of a demonstrator prototype with St Bartholomew's Hospital, London.
The Secta pump also attracted strong interest when it was showcased at the Medical Device Technology Exhibition, the leading exhibition for the medical device and in vitro diagnostics (IVD) industry, held recently in Birmingham UK.
Paul Pankhurst, founder and chairman of PDD and CEO of PDD Innovations, said: "We are really excited about this new development".
"We have created a totally new robust pump mechanism that not only provides the most accurate possible method of controlling rate and volume but does so at an affordable price".
"We are currently focusing on the IV infusions area but our Secta pump could be used within healthcare wherever a highly accurate and reliable dosage system is required - for example, it could be used in nutrition feeding to administer exact dosages of liquid food to seriously ill patients, or to dispense bottled medicines in the home".
"We also believe that Secta can be customised for a wide range of applications beyond medical healthcare".
"In the food industry, it could be used to pump foodstuffs from containers, guaranteeing high standards of food hygiene and reducing wastage as suppliers could re-use the containers by fitting them with a new clean pump".
"In laboratories or the chemical industry, Secta could be used to pump soaps and disinfectants or hazardous materials." Paul Pankhurst commented on the fundraising process: "The Capital Fund has demonstrated a real understanding of early stage investment opportunities".
"We are delighted that they are backing the development of Secta by providing the vital funding needed to cover the development and testing of our technical demonstrator pump." The Capital Fund's investment director, Ian Cameron, said: "PDD Innovations has created a truly innovative, disruptive pump technology that has huge potential for applications across a range of sectors where it could generate considerable cost-savings".
"As well as enjoying a reputation for originality and innovation that is grounded in practical experience, the management team at PDD has significant experience in product development and medical technology, with a particular expertise in the IV infusion market".
"We are pleased to provide the funding PDD Innovations needs to take the Secta product to the next stage."
