Eventum Orthopaedics, an Ilkley, Yorkshire, UK-based medtech startup, secured £1.4m in funding.
The round was led by NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, Mercia’s EIS funds and private investors including several orthopaedic surgeons.
The company intends to use the funds to finalize development and bring the product to market in 2022.
Founded by John Naybour and Paul Atherton, who have been joined by Mike Cripps, the former MD of Leeds-based Panintelligence, as Non-Executive Director and Jon Gonzales as Finance Director, Eventum has developed a device that will provide real-time measurements of the area during knee replacement operations, enabling surgeons to improve their decision making.
As part of the investment Alan Ashby, who has held senior roles with international medical companies, has been appointed as Non-Executive Chair.