Chepstow-based IQ Endoscopes has completed a Series A equity funding round exceeding £4m, in a deal advised on by the GS Verde Group.
The round was led by the Development Bank of Wales and Creo Medical. Matthew Sutton, Director of GS Verde Law, advised on the deal on behalf of the GS Verde Group.
The investment will allow IQ Endoscopes to achieve regulatory approval for its single use flexible gastroscope, as well as accelerating the development of its single use flexible colonoscope.
IQ Endoscope's Q Vision Technology will replicate the physical handling and ergonomic performance of re-useable endoscopic technologies, through a patented and sustainable single use platform.
AIM-listed medical technology specialist Creo Medical has developed CROMA, an electrosurgical advanced energy platform powered by its Kamaptive technology, which combines bipolar radiofrequency for precise localised cutting and microwave for controlled coagulation. Creo Medical has also developed a suite of medical devices designed, initially, for the emerging field of GI therapeutic endoscopy.
The GS Verde Group is a corporate finance led dealmaking group, advising on mergers, acquisitions, business sales & investment raises. The business has extensive experience in the medical and lifesciences industry, having recently advised on the £15m Series A raise for biotech business SolasCure.
The GS Verde Group are business focused experts in getting deals done. The group combines multiple disciplines including law, tax, finance and communications, to act as a complete advisory team.
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