Close
Search by typing keyword(s) below then click 'Search'
IBEX Innovations Completes £1.9m Funding Round

IBEX Innovations Completes £1.9m Funding Round

-Monday, October 6 2014

Proceeds will be used to drive the commercial adoption of IBEX X-ray detectors in medical and industrial markets

IBEX Innovations Limited, the company behind a revolutionary X-ray detector that delivers safer, higher quality imaging in medical and industrial applications, announces today that it has completed a £1.9m funding round.

The funding was provided by new investors the Finance for Business North East Technology Fund (the NETF), managed by IP Group plc, and IP Group plc alongside an existing strategic investor. The funds will be used to enable IBEX to drive the commercial adoption of its X-ray detectors in both medical and industrial markets as well as for continued product development.

IBEX has already secured its first licence deal with a leading industrial X-ray inspection company and first products incorporating the IBEX technology are expected to enter the market later this year.

The Company is now focused on developing applications for other markets including medical imaging and food inspection where its technology has the potential to improve the detection of impurities and defects at significantly lower X-ray doses.

Dr Neil Loxley, Chief Executive of IBEX, commented: “We are delighted to welcome the NETF and IP Group plc as shareholders. Having the support of a FTSE 250 listed company gives us a real confidence boost to push forward and maximise the value of our technology in multiple markets. We are also very grateful for the continued support of our existing strategic investor, which I believe demonstrates the great progress made in translating our world-leading technology into market-ready products.”

Duncan Lowery, Senior Investment Manager at IP Group, said: “IBEX has demonstrated an opportunity to approach new markets with its existing technology. We believe the business has great potential due to the nature of the approach to a market pain combined with a seasoned management team. We are very pleased to be able to support the company through this next phase of development.”

For further information see the NETF press release here.

 

news

Team building in the trees

- Thursday, August 10 2017
Team building in the trees

IBEX launches project to improve breast cancer diagnoses at reduced patient dose

- Wednesday, April 26 2017
IBEX launches project to improve breast cancer diagnoses at reduced patient dose

IBEX technology receives US patent

- Thursday, April 13 2017
IBEX technology receives US patent

IBEX gains ISO accreditation

- Friday, January 27 2017
IBEX gains ISO accreditation

IBEX encourages students in the global workplace

- Thursday, January 26 2017
IBEX encourages students in the global workplace

Invitation to Tender

- Wednesday, December 7 2016
Invitation to Tender

IBEX’s partner in portable security inspection reports a sharp increase in business

- Tuesday, October 25 2016
IBEX’s partner in portable security inspection reports a sharp increase in business

IBEX and Nordson Dage at SMTAI 2016

- Tuesday, September 27 2016
IBEX and Nordson Dage at SMTAI 2016

IP Group investment in IBEX recognised as “JEREMIE-Funded Deal of the Decade”

- Friday, September 9 2016
IP Group investment in IBEX recognised as “JEREMIE-Funded Deal of the Decade”

Broadening the horizons of new generations of researchers

- Monday, August 1 2016
Broadening the horizons of new generations of researchers

Invitation to Tender for the Provision of a Dedicated High End Simulation Server

- Tuesday, July 12 2016
Invitation to Tender for the Provision of a Dedicated High End Simulation Server

IBEX Nominated for NHS Bright Ideas in Health Award

- Wednesday, June 22 2016
IBEX Nominated for NHS Bright Ideas in Health Award

Patent granted

- Wednesday, June 15 2016
Patent granted

Staff development accesses Higher Level Skills funding

- Monday, May 23 2016
Staff development accesses Higher Level Skills funding

IBEX Promotes STEM at Local Careers Event

- Thursday, March 17 2016
IBEX Promotes STEM at Local Careers Event

New Website Launch

- Friday, February 19 2016
New Website Launch

IBEX Secure £98k Innovate UK Smart Proof of Concept Grant

- Monday, January 25 2016
IBEX Secure £98k Innovate UK Smart Proof of Concept Grant

IBEX to Exhibit at ECR in Vienna

- Friday, January 22 2016
IBEX to Exhibit at ECR in Vienna

Expanding the Team at IBEX

- Monday, January 18 2016
Expanding the Team at IBEX

IBEX Secure £180k Innovate UK Smart Development of Prototype Grant

- Friday, October 2 2015
IBEX Secure £180k Innovate UK Smart Development of Prototype Grant

IBEX to License MAP Technology to 3DX‑RAY

- Friday, October 2 2015
IBEX to License MAP Technology to 3DX‑RAY

IBEX is hiring…

- Thursday, June 4 2015
IBEX is hiring…

IBEX Innovations Completes £1.9m Funding Round

- Monday, October 6 2014
IBEX Innovations Completes £1.9m Funding Round