CardioPrecision Ltd, the global leader in transcervical access for the treatment of structural heart disease and cardiothoracic intervention, successfully completed a further funding round from existing angel investors and Scottish Enterprise.
“The success in raising this funding round in record time from the existing investors is a dramatic endorsement of the strength of the Company’s transcervical access concept and management’s strong track record of delivering results on time and within budget.” said CardioPrecision Founder and Chief Executive Officer, Dr Ying Sutherland, PhD. CardioPrecision’s patented CoreVista® Technology facilitates access to the chest through a short incision in the skin crease of the neck, potentially facilitating a wide range of cardiothoracic and cardiovascular interventions with estimated potential global market of multi billion dollars. The new funds validates the commercial readiness of technology and will allow the company to accelerate market introduction of its CE-marked products.
Quest Corporate Ltd served as corporate financial advisor and Burness Paull LLP as legal advisor to CardioPrecision Ltd.
About CardioPrecision Ltd
CardioPrecision Ltd, based in Glasgow, UK is the global leader in transcervical access for the treatment of structural heart disease and cardiothoracic intervention. CardioPrecision’s CoreVista® Retractor and Accessories allows cardiothoracic surgery to be performed through a short incision in the skin crease of the neck. CardioPrecision is dedicated to making patients’ lives better through the development of innovative, less invasive access solutions for cardiothoracic surgery and cardiovascular intervention. For more information, visit www.cardioprecision.com
About Quest Corporate Ltd
Quest is a Corporate Finance Boutique based in Edinburgh. Quest takes a unique approach to corporate transactions, offering a results focused service that balances experience and market knowledge with the client business’s requirements. For more information, visit www.questcorporate.com
About Burness Paull LLP
Burness Paull is one of Scotland’s leading commercial law firms. The firm has the largest specialist deals team in Scotland and has continued to prove its market leading position in Scotland and expand its global reach with a significant proportion of work done worldwide. For more information, visit www.burnesspaull.com
This news release includes forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding expected product benefits, anticipated product approvals, future plans related to the product lines, the benefits of the transaction, including future financial and operating results, objectives and expectations and other statements that are not historical facts. Such statements are based on the views and assumptions of the management of the company and are subject to significant risks and uncertainties.
Actual future events or results may differ materially from these statements as a result of various factors, including: unexpected costs of device development and approvals, unanticipated outcomes after more expanded pre-clinical and clinical experience with the devices, unexpected changes or delays related to product supply, potentials for unexpected regulatory or quality delays or developments, competitive dynamics, global economic conditions and customer acceptance, and other economic, business, and/or competitive factors. The forward-looking statements speak only as of the date of this communication. Except as required by law, The Company undertakes no obligation to update these statements.
CoreVista is a trademark of CardioPrecision Ltd.