"This financing from our existing investor base is fundamental to PneumaCare’s aggressive plans for expansion in Europe and North America,” said Dr. Bill Mason, Chairman of PneumaCare.
Cambridge, Cambridgeshire (PRWEB UK) 30 October 2013
PneumaCare, the Cambridge UK-based respiratory monitoring medical imaging company, has announced the closing of a new £1M financing.
The fund raising was supported by existing investors including Sud Investments, Torteval, and business angels from Cambridge Capital Group and Cambridge Angels.
In parallel with the financing, the Company has announced the appointment of Edward Benthall to the Board of Directors. Edward Benthall is a former partner at Charterhouse Capital Partners, a private equity firm based in London. He is also an active participant in the Cambridge business angel community, through his membership of the Cambridge Capital Group. Edward is currently Chairman of Cambridge Enterprise and the recently launched Cambridge Innovation Capital Fund.
As part of the financing, PneumaCare is expanding its premises at the St. John’s Innovation Centre in Cambridge to enable increased production volumes, provide training facilities for its customers and distributors and to support commercial expansion generally.
"This financing from our existing investor base is fundamental to PneumaCare’s aggressive plans for expansion in Europe and North America,” said Dr. Bill Mason, Chairman of PneumaCare. “Our recent appointment of industry veteran CEO, Mark Harwood, has given our investors confidence that the company is geared for expansion and growth. We have two CE-marked products which are now entering the commercial phase, and a range of clinical studies are in progress in UK and Europe. These will provide proof of clinical efficacy for a wide spread of human diseases in the area of lung function.”
- End -
PneumaCare is a Cambridge (UK)-based company providing clinicians with respiratory diagnostic and monitoring equipment using novel non-invasive 3D-imaging technology. Thora-3DI™ and PneumaScan™ are CE mark approved and are already being used in clinics, pre- and post-operative assessments, drug testing, and device development by both public and private health care providers. Further applications of PneumaCare’s proprietary Structured Light Plethysmography technology, developed in close partnership with the clinical community, include home care, neonatal, critical care, and rehabilitation applications.
PneumaCare was founded in 2009 to address directly the needs of respiratory clinicians.
510(k) Approval Pending
For more information please contact:
Dr. Bill Mason
St John’s Innovation Centre
Cambridge CB4 0WS
Tel: +44 (0) 1223 703 151
Mob: +44 7785 950134