The North West Fund for Biomedical, managed by SPARK Impact, has invested £250,000 in medical devices manufacturer Handsome Ltd

Handsome Ltd, which is based at Manchester Business Park in South Manchester, is currently developing a range of products to provide spinal pain relief.

The investment will be used to complete product development and clinical user studies, as well as implementing relevant ISO accreditations and commercialising products to bring them to market. The North West Fund for Biomedical is part of The North West Fund, a £155million evergreen fund that is jointly financed by the European Regional Development Fund and the European Investment Bank.

Mark Critchley, chief executive of Handsome Ltd, said: “We are currently developing a range of innovative health care devices to provide spinal pain relief, which we intend to bring to market in 2013. “The investment and support from The North West Fund for Biomedical will be crucial in helping us to maintain our progress and translate our innovations into commercial reality.”

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said: “The range of products being developed by Handsome could make a significant impact on the provision of healthcare in the UK and beyond. We are delighted to make this investment and look forward to seeing how the team progresses in the coming months and years.”
 
Handsome Ltd is The North West Fund for Biomedical’s 37th investment to date.

For more information about the fund and how to apply please visit www.thenorthwestfund.co.uk