A Liverpool-headquartered medical device company has secured a £750,000 funding package. The company’s CEO spoke to Health Tech World about its importance.
NasoGastric Feeding Solutions (NGFS) has developed a device called DoubleCHEK, which uses dual indicators, CO2 and pH, to prevent the misplacement of feeding tubes into the lungs.
The funding, which was secured through a mix of private investment and matched funding from the British Business Bank’s Future Fund, will enable it to manufacture the device in the UK and initiate commercialisation beginning in the second quarter of 2021. The investment will also be used to obtain FDA approval ahead of the US expansion being led by NGFS’s team in Chicago, Illinois.
DoubleCHEK is the brainchild of George Gallagher, who was born with his esophagus and trachea fused together, allowing food and/or stomach acid to enter the lungs. This was later corrected through surgery at Alder Hey Children’s Hospital, where nutrition he received through a nasogastric feeding tube was key to his recovery.
He said: “This vital support will help us to introduce DoubleCHEK to more hospitals both in the UK and US and to save lives from an entirely preventable problem.
“To have the investment at a time where everybody is battening down the hatches shows confidence in the technology and the team but, more importantly, the funding will enable us to have the product mass-manufactured in the UK.
“It will also enable us to achieve some initial sales, which means follow-on growth investment will be a lot easier to secure because we will be able to demonstrate that we are a revenue generating business.”
He added: “The feedback we have gotten so far from the nurses that have used it is that they really like it because it’s clean, it’s simple and It’s very easy to understand.
“There is a big void out there for a product to do what this does. So, if there is a product that comes to market that’s cost effective, which it will be because it’s a single patient reusable device, it will be bonkers to think why they wouldn’t use it.”