CamStent Limited marks first 2011 LBA EIS RoundTable Syndicate Fund investment
CamStent Limited, an Early Stage Cambridge based Medtech company has successfully closed its £350,000 seed funding round with significant participation from LBA’s angel investors. CamStent also marks the first investment made by the 2011 LBA EIS RoundTable Syndicate Fund.
Cambridge based CamStent is developing patented polymer coatings that resists 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 per cent of all hospital acquired infections. The company now aims to accelerate growth of the business through its first catheter application, and through developing secondary applications for their biofilm-resistant coatings.
Anthony Clarke, LBA Managing Director comments: “I was impressed with the Technology being developed by Camstent and the market potential for its products which attracted good support from the angel investment community."
CEO of CamStent Dave Hampton comments: “The perspectives that the LBA team gave to us on our prospectus and pitch were invaluable and I'll always be grateful for the guidance that made things click together.”
Over the next six months the £420k LBA EIS RoundTable Syndicate Fund aims to co-invest into four further companies which have presented to LBA alongside LBA’s investors.
London Business Angels
Anthony Clarke, Managing Director
Tel: +44 (0)20 7321 5672
E-mail: enquiries@lbangels.co.uk
Web: www.lbangels.co.uk
About London Business Angels
LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.
About the LBA EIS Approved RoundTable Syndicate Fund
The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).
Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k. The fund invested in 5 leading edge technologies spread across a range of sectors: Camstent (medtech), Momentum Bioscience (medtech), Phase Vision (high value manufacturing), Michelson Diagnostics (medtech), Isotera (cleantech)
The LBA EIS Roundtable Syndicate Fund 2012, closed for subsciprtions on 5th April 2012, being the largest raised to date at £455k. The fund will seek to invest in 5-6 early stage companies in the forthcoming year.
