Sky Medical completes £2.5m fundraising
Sky Medical has completed its £2.5m fundraising after securing £450,000 of angel investment through private investor network Envestors.
The company secured the funding after completing an ‘investor readiness programme’ run by private investor network Envestors. It also pitched to a number of the region’s business angels at an event in Manchester last year.
Sky Medical, which operates from Daresbury Science and Innovation Campus, has developed OnPulse – a self-adhesive strip that stimulates muscles in the calf and foot when placed behind the knee. The technology is designed to improve blood flow.
According to the company, studies carried out by St Bartholomew’s Hospital and London NHS Trust have found that OnPulse is more effective in preventing DVT than the existing market leading products. The business now hopes to access the $1.6bn DVT device market via hospital distribution partners.
Bernard Ross, managing director of Sky Medical, said: “We are delighted to have launched the device as it provides a major contribution to the fight against Deep Vein Thrombosis (DVT), which claims the lives of 25,000 people in the UK each year.
“After such a successful initial fundraising, we expect to launch a new funding round in spring 2011.”
