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