Vascular Flow Technologies, a Dundee, UK medical device company, raised £10m (approx. $14m) in funding.
The equity round consisted of two concurrent transactions;
– a £7m loan note restructuring into the Series A Ordinary Preference shares and
– a £3m Series B capital increase.
The Series B round was led by an undisclosed family office with participation from institutional and individual angel investors.
The company intends to use the funds towards its development as a technology transfer business, as well as strategic joint development and out-licensing agreements with industry partners.
Led by Bill Allan, CEO, Vascular Flow Technologies is a medical device company using proprietary Spiral Laminar Flow™ (SLF™) technology to replicate natural blood flow for enhanced patient outcomes. Current collaborations include ongoing work in stents and haemodialysis access catheters.