Inotec AMD, a Cambridge, UK-based medtech business that has developed an innovative device to heal and treat complex chronic wounds, secured £7m in funding.
The round was led by Praetura Ventures (£2.75m) with participation from existing investor Amadeus Capital Partners, Puhua Capital, Boundary Capital and a group of high-net-worth angel investors. Dr Andy Round, director and life sciences specialist at Praetura Ventures, will join Inotec AMD’s board in conjunction with the funding.
The company intends to use the capital to build on its recent growth and target new international markets.
Led by Craig Kennedy, CEO, and and chairman Dr Adrian Patron MBE, Inotec AMD has developed Natrox, a product that uses pure humidified oxygen to treat a range of chronic wounds, from diabetic and venous ulcers to non-healing surgical wounds.
Following several clinical trials, Inotec AMD is looking to expand its foothold in the US, Asia, the Middle East and Europe. The business currently provides products to the NHS and health providers in key markets including the US, Italy, Southeast Asia and the Middle East. They also have a US office in North Carolina.