OR Productivity plc, a Guildford, UK-based developer of innovative products for minimally invasive medicine, closed a first £1m tranche of a £2.5m round of funding.
Backers included mainly existing shareholders, including AngelCoFund, which committed £350K following its original investment of £500K in 2012.
The company will use the funds to roll-out its FreeHand surgeon-controlled camera holder globally, and to support expansion of the clinical applications for the product.
Led by Jeremy Russell, CEO, OR Productivity provides FreeHand, which allows surgeons to perform keyhole surgery procedures by giving them a clearer and more stable view of what they are doing.
The product has been launched recently and new distribution partners are now representing it in Europe and the Far East. The company will also appoint a new US distributor later this year.
FinSMEs
25/09/2013