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Camstent Raises Finance

Camstent Raises Finance

Following Camstent's presentation at the YABA investment forum in November 2010, the company has announced the close of its first funding round - and it includes six YABA members.

In total, the company has raised £350,000 to further develop its novel medical device technology, with the YABA members’ investment accounting for a third of this finance. Other investors included members of the business angel
communities in Cambridge and London.

Based in Cambridge, Camstent develops patented polymer coatings based on research from the University of Sheffield. The coating resists the growth of bacteria, known as biofilms, on medical implants and devices. The first
application of the technology will be to coat urinary catheters for the prevention of urinary tract infections, which account for 40 per cent of all hospital acquired
infections.

Business angel Neil MacDonald is one of the six YABA investors. He says: “I’ve been really impressed with the product, the company and the clarity of the business plan both at the Investment Forum, where Camstent CFO Clare
Twemlow presented a very compelling pitch, and in my subsequent dealings with the company. This platform technology has huge potential because it could be applied to any number of implants and devices where biofilm –
and infection – are a problem.”

Over the next twelve months Camstent will focus on optimising and refining its coating technology, preparing for regulatory approval and engagin with potential licence partners. Chief Executive Dave Hampton says: “We are delighted to welcome our new shareholders and we’re looking forward to accelerating the growth of Camstent through this first catheter application and other future applications.”

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