Medical device company raises £1.5m

Medical device company raises £1.5m

Medical device company, IQ Endoscopes has raised £1.5m in a funding round led by the Development Bank of Wales and Creo Medical Group plc, in a deal that was advised on by Greenaway Scott, part of the GS Verde group.

The investment will support the rapid product development of the company's IQ platform, a range of single use flexible endoscopes which provide images of the full length of the gut, assisting diagnostics and therapeutic procedures.

Greenaway Scott acted as legal adviser to the Development Bank of Wales, which has supported the company as an investor over multiple rounds through to its successful IPO on AIM in 2016.

Both corporate law firm Greenaway Scott and the wider GS Verde Group have a long track record of working in the medical and life science industries. As well as having many clients in those sectors, the Group has also worked on a number of corporate transactions.

Speaking on the completion of the deal, Matthew Sutton, Director of Greenaway Scott, said: "We were delighted to work on this deal and to advise the Development Bank of Wales. As keen supporters of STEM, medical and life sciences industries, it is exciting that IQ Endoscopes will soon be operating in Wales. All of the teams at the GS Verde Group wish the business every success for the future."

Greenaway Scott is part of the multi-discipline professional services group, the GS Verde Group. The group also consists of M&A financial experts Verde Corporate Finance, marketing and PR business Dragonfly Communications, and the digitised investment platform Elevate.

For more information on the deal, the full news article is available here: Insider Media

To speak to Matthew Sutton, or the corporate team at Greenaway Scott about raising finance, please contact the corporate team on 029 2009 5500 or email corporate@greenawayscott.com