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18/09/2015

Creo Medical, emerging leader in electrosurgery, closes $8.45m in new financing round.

Creo Medical, an emerging leader in electrosurgery, today announced the completion of its latest financing round totaling $8.45m, including new investor Pentax Medical (HOYA Group).

Participants in this financing round also include existing investors Finance Wales, the Angel CoFund and individual angel investors. To date, Creo Medical has secured investment totaling $20.7m.

Described as ‘the first new electrosurgical platform in a generation’ the Creo Medical CROMA energy system provides a unique combination of super high frequency microwave energy for controlled coagulation and bipolar radiofrequency energy for precise soft tissue cutting, supporting a wide range of surgical instruments for applications such as therapeutic endoscopy, laparoscopic surgery and tumor ablation.

“We welcome our new investor Pentax Medical, identifying therapeutic endoscopy as a priority area they support Creo Medical’s vision to be leaders in electrosurgery. With this latest investment we are well positioned to complete US regulatory approval, build on our growing intellectual property portfolio and develop commercial traction in key global markets.” commented Craig Gulliford, CEO, Creo Medical

David Woods, Chief Marketing Officer, Pentax Medical remarked “We are pleased to be investing in an organization with a proven record of innovation in a business that aligns seamlessly with Pentax Medical’s cutting-edge flexible endoscopes portfolio. This investment grants us access to an innovative electrosurgical platform and accelerates Pentax Medical’s strategy of more effectively serving physicians and their patients in a rapidly evolving healthcare industry by expanding into the vital endoscopic therapy space.”

Dr Richard Thompson, from Finance Wales’ technology ventures team added, “Finance Wales is a long-term backer of Creo Medical, this being the latest in a number of investments. We are pleased to see the company making impressive progress."

Creo Medical’s technology platform supports the continuing evolution of advanced therapeutic endoscopy and other minimally invasive surgical techniques, driving improved outcomes for patients and reducing costs to healthcare providers.