Reading’s Occuity secures Department for Trade funding
Occuity, a Reading-based medical equipment manufacturer, has secured an internationalisation grant from the Department for Trade.
The grant, which is match-funded, will be used to help the business connect with end users and distributers in advance of the firm’s PM1 Pachymeter launch in international markets in Europe, North America and Asia-Pacific.
Occuity’s CEO, Dan Daly stated: “It’s great that Occuity has been recognised as a company with significant potential to achieve international sales and grow exports from the UK across the globe.”
The grant will also provide funding for an FDA consultant to help the firm achieve regulatory approval for the PM1 ahead of a market launch in the US, which represents half the market opportunity for Occuity’s products.
This would also pave the way for potential future sales in Central and South America.
Mike Riley, Occuity’s Director of International Sales, said: “Occuity’s ophthalmic products have great market potential, so I’m looking forward to getting our products in front of key opinion leaders and continuing conversations with distributors at events such as ESCRS in Milan in September, the AAO in Chicago and RANZCO in Brisbane both of which occur in October.”
In July, Occuity launched a new funding round to support the advancement of its long-term screening and monitoring products, while finishing the PM1's path to revenue and capitalising on what it describes as "a very attractive new opportunity".