Finance Wales portfolio biotech company Creo Medical to list on AIM

Author

Development Bank of Wales

14 December 2016

It was recently announced that, Creo Medical, a biotech company that received funding from Finance Wales, is to list on AIM.

Steve Smith, Director of Technology Venture Investments at Finance Wales said:

“Creo Medical is the fourth Finance Wales portfolio company to list on AIM in the last four years. Our initial investment in 2012 led them to relocate their headquarters and product development facility to Chepstow. We’ve since supported them over multiple rounds of equity investment and leveraged significant private and corporate co-investment in the process. It’s exciting to see yet another Welsh life science company list after support from our Technology Venture Investments team. Raising £20 million in their debut on AIM will allow them to complete key product development programmes, secure regulatory approvals and drive early sales in Europe and the US.

“We’re an active technology investor, offering debt and equity investments to a range of technology-focused businesses in the SAAS, Artificial Intelligence, data analytics, med tech, clean tech and advanced materials sectors. Through our Technology Seed Fund and later stage Technology Venture funds, we are able to support businesses from start up, through commercial growth to eventual exit.

“As well as supporting indigenous businesses Finance Wales – in partnership with Welsh Government – targets high calibre technology businesses willing to relocate to Wales to benefit our seed and growth capital.

“Our dedicated Technology Venture Investments team have invested nearly £8 million already since April this year, leveraging significant private sector co-investment.”

Senior Investment Executive at Finance Wales, Dr Richard Thompson, said:

“We’ve been investing in Creo Medical since 2012 – investing more than £3 million over multiple funding rounds – with an additional £1.9 million being invested at IPO. This has been done in collaboration with extensive co-investment from a brilliant group of angel investors and most recently Japanese corporate Hoya Group Pentax Medical.

“Creo’s innovative technology has real benefit to the medical community and is supported by an award-winning management team. They are an emerging med-tech leader and its CROMA electrosurgical platform is ground breaking and has significant potential to improve the outcomes of a range of medical procedures. It has always been a pleasure to work with Craig and the Creo team. We wish them every success in building Creo into a very significant med-tech listed company.”

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