Veryan Medical, a Horsham, UK-based developer innovative solutions for vascular disease using the principles of biomimicry*, has raised £5m in funding.
The round was led by Imperial Innovations Group plc (AIM: IVO), which holds a 48.4% stake in the company, and Seroba Kernel Life Sciences, with participation from Veryan Chairman Dr. Geoffrey Vernon.
The investment follows a £3.6m funding round in March 2010 where Innovations and Seroba Kernel invested £1.1m and £1.8m respectively (read here). Shareholders in the company also include National Endowment for Science and Arts (NESTA), Citygroup Capital UK Ltd., Oxford Capital Partners, management and founders.
Incorporated in June 2003 as a spin-out from Imperial College, London, and led by CEO Chas Taylor,Veryan has developed a proprietary stent technology, BioMimics 3D™, which is which aims to mimic the natural shape and geometry of the human vascular system. It is based on the novel imposition of a three-dimensional helical profile onto conventional vascular stents.
The company has its research and development facility is in Galway, Ireland.
*Biomimicry: Innovation inspired by nature. A study of nature’s models and structures and then their use to solve human problems (e.g. a solar cell inspired by a leaf, a stent inspired by a blood vessel)