CamStent, a Cambridge, UK-based early stage polymer coatings specialist, has closed a £500k funding.
Backers include new and existing London Business Angels, who committed £114k (including an £18k follow on investment by the LBA EIS Roundtable Syndicate Fund 2011). This funding round, which follows the £350k seed funding round which the company completed in August 2011 (read here), has been supplemented by a £250k non-dilutive grant from the Technology Strategy Board.
Led by CEO Dave Hampton, CamStent is developing patented polymer coatings that resist the growth of bacteria on medical implants and devices, the first application being to coat urinary catheters in order to prevent Urinary Tract Infections, which account for 40% of all hospital acquired infections.
The company intends to use the capital to to take its proprietary technologies through validation, experimental trials and regulatory submissions ahead of human clinical trials.