London Business Angels' syndicate helps Cipher Surgical close its £650k Angel round

29 November 2012

Early stage Coventry-based medical device company, Cipher Surgical, has raised £130k as part of an internal £650k round from a syndicate of London Business Angels med tech investors.  The company is commercialising a highly innovative medical device for maintaining a clear distal window of the laparoscope during an operative procedure(the OpClear). With this latest round of funding, the company will be able to complete development and product enhancements to UK launch in 2012 and meet working capital requirements for multiple market international launches during 2013.

Anthony Clarke, CEO of London Business Angels, comments, “I am pleased that a syndicate of 4 London Business Angels has made a £130k investment as part of Cipher’s £650k internal round. The company is developing innovative products with strong IP in the laparoscopy market which solve a clear and well recognised problem. I expect that our investors will be able to add value too. This deal marks the 17th deal that LBA has completed in 2012 amounting to £3m of new investment from LBA’s angels alongside over £8m of co investment. This proves that there continues to be very good appetite at LBA  for investment opportunities with explosive growth potential.”

London Business Angels
Anthony Clarke, CEO
Tel: +44 (0)20 7321 5672

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/SEIS Approved RoundTable Syndicate Funds

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 at £455k. The fund invested in 6 early stage companies.

The LBA EIS Roundtable Syndicate Fund 2013, closed for subscriptions on 5th April 2013 at £290k. The fund invested in 6 early stage companies.

The LBA EIS Roundtable Synducate Fund 2014 closed for subscriptions at £695k on 4th April 2014. The fund co-invested alongside London Business Angels in 8 early stage companies.

The LBA EIS Roundtable Synducate Fund 2015 closed for subscriptions at £665k on 4th April 2015 and plans to be fully invested by the end of March 2016.