By Alexa Kaczka
A company that has had a major impact on the way in which contacts lens are analysed has been given a cash injection to help continue its good work.
More than £3 million has been pumped into Sheffield University off-shoot Phase Focus, which produces revolutionary technology enabling the creation of images at higher resolutions than has ever been possible, the Sheffield Star reports.
The company's Virtual Lens is able to overcome the limitations of conventional lenses by taking advantage of sophisticated computer software to analyse a number of images that are recorded on electronic sensors.
This technology has already been used to take detailed measurements of commercially produced contact lenses, while future applications are set to increase the magnifying power of electron and x-ray miscroscopes.
To fund this further research, the Ombu Group is injecting £3 million, while Fusion IP has also pledged to put a further £220,000 of investment in.
Phase Focus chief executive Dr Ian Pykett told the newspaper that the substantial investment recognises the successes the company has already had in generating revenues and commercial traction across markets.
"More importantly, it allows us not only to grow these current opportunities more rapidly, but also to exploit several new technology developments, and to address in parallel a number of new markets to which we believe our technology will bring great user value," he added.
Meanwhile, Ombu Group chief executive, Stephen Brooke revealed to the Star that his organisation has been tracking Phase Focus for many years and has always been "amazed" by the technology, which has led to the decision to make a substantial investment in furthering contact lens technology and other innovations.
“This is a fantastic opportunity for us to partner with a company with remarkable technology that has just broken through into its full commercial phase," Mr Brooke added.
by Martin Burns