Inotec, which was formed in 2005, specialises in the treatment of wounds through its portable oxygen generator, NATROX™, which produces moist oxygen ideal for stimulating healing. The device is worn in the holster provided and the patients enjoy full mobility and may go about their normal lives. The technology is based upon an invention of Professor Derek Fray from the Department of Materials Science and Metallurgy at the University of Cambridge.

David Burall, Chairman of Inotec, said, "We are delighted to have Nick on board as our CEO. He brings a wealth of experience from the Life Sciences and health care industries and has led the commercialisation of new technology on numerous occasions. We look forward to an exciting future as we complete further clinical trials and ready the NATROX™ system for market launch."

A Cambridge graduate, Hyde has spent more than 30 years working for multi-national chemical and pharmaceutical companies, including serving as Vice-President of Avecia's Pharmaceutical Services business from 2000 to 2002. He joined Dow Chemical in September 2002 to lead Dowpharma, which serves the pharmaceutical and biopharmaceutical industries.

During his career, Hyde has been responsible for launching many new businesses based on internal and licensed development programs. This includes two biotech spin-outs from Dow and new business launches ranging from activated PEGs to protein expression technology licensing and new screening technologies for drug discovery.

"The need for improved wound care is one of the little known consequences of an ageing population, as it is primarily the elderly who suffer from chronic wounds, such as leg ulcers and pressure sores," says Hyde. "Bringing Inotec's technology to market so that it can help improve the lives of thousands of sufferers is very exciting and it is a tremendous privilege for me to have this opportunity. The University of Cambridge is a world-class source of innovation and I am particularly delighted to be associated with the University again."

Inotec has recently completed the first clinical study of NATROX™. The study, led by Dr Raj Mani of Southampton University Hospital, was conducted at the Tissue Viability Consultancy Services' Wound Healing Centre in Eastbourne.

The company is expecting to complete two UK trials which are testing the functionality of the product on typical leg ulcers by March 2010.

Inotec AMD is a Cambridge Enterprise portfolio company.

This Cambridge start-up company has developed a means of applying pure medical grade oxygen directly to a wound surface in a manner that avoids the restrictions and high costs associated with current hyperbaric chamber and static methods of applying topical oxygen.

Life depends on a continuous supply of oxygen, which is essential for energy-producing chemical reactions in every cell in the body and crucially to the healing process. From the point of view of wound care, oxygen can both actively prevent infection and dramatically reduce healing time. Very often it is not the initial wound which causes the damage, but subsequent infections to which wounds are prone. Simply dressing a wound, particularly if compression bandaging is used, provides a barrier to normal atmosphere oxygen. However, Grandma was right: wounds need to breathe.

Inotec's NATROX™ device is the result of collaboration between Professor Derek Fray of the Department of Materials Science and Metallurgy, University of Cambridge and Inotec's co-founder, Mel Vinton. The NATROX™ system generates oxygen, from a small battery powered unit, which is then distributed evenly across a wound, typically a lower leg ulcer. Conventional medicated dressings are retained and NATROX™ does not need to be applied by a trained clinician. The patient remains fully mobile and may enjoy a normal lifestyle.

Dr Nick Slaymaker, Investment Manager of CESF and Director of Inotec, said "Our first investment has produced pre-production prototypes of this exciting technology which is based on two patented technologies. We are now delighted to co-invest with Cambridge Capital Group in a substantial funding round to take the wound healing products into the clinic. Inotec has also won a substantial R&D grant from EEDA, the East of England Development Agency."

Ageing populations and increasing diabetes and vascular disease mean that the market for improved treatment of hard-to-heal wounds is large and growing.

Inotec's technology promises to safely and economically offer a new way of providing oxygen to cells and damaged tissue achieving reductions in healing time, scarring and indeed closure of critical non-healing wounds such as lower leg ulcers. The new investment will help Inotec to develop its IP and know-how and use contract manufacture to work with distributors and other third parties seeking to introduce oxygen therapy into advanced wound care markets.