Investment backs West Midlands breakthrough technology for eye diseases
A University of Birmingham spinout developing an advanced eye drop technology that could radically improve the lives of people suffering from debilitating conditions is being backed by Richard Parker, Mayor of the West Midlands.
Healome Therapeutics is the first West Midlands business to receive investment through Midlands Mindforge, a capital investment company founded by eight of the region’s universities.
Part funded by the West Midlands Combined Authority (WMCA) and UKRI Research England, Midlands Mindforge has been set up to support spin-out companies and other early-stage technology businesses to help get their ground-breaking science to market.
The eye drops being developed by Healome form a soft layer that liquifies with each blink to lubricate the eye, and reforms as a protective layer.
It is thought the product could be of huge benefit to people suffering with Epidermolysis Bullosa (EB) as well as other conditions like glaucoma and dry eye disease.
Together with other private and third sector backers, Healome has raised £2m to continue preclinical development and regulatory engagement and scale-up manufacturing leading to real-world trials of the eye drops in 2027.
The other funders include Empirical Ventures (lead investor), Oshen Bio, SFC Capital and charities DEBRA Research and Cure EB. Both charities support people with EB, a group of rare, inherited genetic skin disorders that cause extreme skin fragility, painful blistering, and vulnerability to minor friction.
Richard Parker, Mayor of the West Midlands, said: “Health tech and life sciences already support 14,000 jobs across this region and contribute £6 billion to our regional economy. There are even bigger economic gains to be made by backing ambitious, early-stage biotech firms like Healome.
“The team there is a great example of the entrepreneurial spirit and world-class research in our universities and beyond. It’s why we provided funding into Midlands Mindforge, so we can turn breakthrough ideas like this into strong businesses that create skilled jobs and improve lives.
“Investments like these also showcase the quality of what our region can offer, helping to attract even more capital investment into these innovative companies. That’s the real value I want to add to our economy while cementing the West Midlands’ reputation as a global innovator.”
Dr Richard Williams, Healome Therapeutics’ chief executive officer, said: “To be one of Midlands Mindforge’s first investments, and one of the first in the West Midlands, is a proud moment for the whole Healome team and the wider group of stakeholders who've been part of our journey so far. A regionally focused fund built to back strong deep‑science and engineering commercial opportunities is exactly what the region needs right now.
“The quality of R&D here in the West Midlands, and across the UK, has long been recognised; the harder challenge is turning that science into product and keeping the value here once it reaches the market. By widening access to capital and expertise for local companies, Midlands Mindforge helps them accelerate to market and scale from the region.”
The Mayor recently visited Healome at Unit 9 incubator at the University of Birmingham to meet the team and see a demonstration of how the eye drop works and how it could improve treatment for EB and other health conditions.
Public awareness of EB in particular has grown following the Netflix documentary Matter of Time, which highlighted the unmet needs faced by patients and families living with the disease.
Healome was co-founded by Professor Liam Grover, Professor Tony Metcalfe, Dr Richard Moakes and Dr Richard Williams, who is chief executive officer.
The underlying research for the eye drop technology began at the University of Birmingham’s Healthcare Technologies Institute.
During the visit, the Mayor also met Freya Mozafari and Tami Niimura-Price, both University of Birmingham graduates who have been given the opportunity to further their own careers on internships with Healome.
Up to £2m of WMCA Investment Zone funds will be invested by Midlands Mindforge alongside initial investment from Claire Ward, Mayor of the East Midlands, through the East Midlands County Combined Authority, as well as UK Research and Innovation (UKRI), Research England, the Rigby Group, and the Department for Business, Innovation, Science and Trade (DBSIT) via the Invest in UK University R&D – Midlands Campaign.
Pictured from left to right: Claudia Whyte, representing charity Sjögren’s UK; David Coleman, CEO at University of Birmingham Enterprise; Dr Lisa Smith, CEO at Midland Mindforge; Richard Williams, CEO at Healome Therapeutics; and Richard Parker, Mayor of the West Midlands.
