Catapult Venture Managers support Monica in developing new generation products
Monica Healthcare Ltd, the Nottingham developers of a new breed of fetal monitoring equipment, has secured a further cash injection from investors to commence the development of its ‘next’ generation products.
This funding round for the Biocity-based company has been supported by Catapult Venture Managers, East Midlands Business Angels, New Hill Management and private investors. It brings the total money invested into the business since its spin-out from the University of Nottingham in May 2005 to £4.5 million.
Catapult Managing Director Rob Carroll commented: “Monica has a very good management team that has consistently delivered on development programmes and, as investors, we are confident that they will ultimately deliver further revolutionary devices.
“To date, Catapult has invested £1.4 million through our East Midlands Regional Venture Capital Fund (EMRCVF) into the company.”
Monica’s current fetal monitoring devices accurately monitor Fetal Heart Rate, Maternal Heart Rate, Uterine Activity and maternal activity; and are designed to improve the management of high risk pregnancies and, ultimately, help address the problems of still birth and premature delivery and its associated morbidity.
The Monica wearable unit has CE regulatory approval and FDA clearance, and is sold in many countries throughout the world including the United States, Russia, Brazil and throughout Europe.
CEO Dr. Carl Barratt commented: “Until now, the Doppler Ultrasound technology has dominated antenatal monitoring for nearly 40 years. Our current and future fetal monitoring devices will help to bring about a change in the marketplace.”