Tayside find £1m to increase the flow
Braveheart provides more funds to the medical company
Tayside Flow Technologies (TFT) has received £1m of funding to take its products towards market.
The company has been backed by its existing investor Braveheart, the private equity firm which first invested in 2002, as well as Scottish Enterprise, Sir Tom Farmer and Quayle Munro. The deal involved converting bridge funding into equity as well as injecting new money into the business. TFT was initially founded in 1998 as a spin out from Tayside University Hospitals NHS Trust. It specialises in Spiral Laminal Flow (SLF) technology which can be used in conjunction with grafts and stents and is designed to reduce bloodflow turbulence. The company says it has made ‘significant progress’ in the past 12 months and will use the additional funding to further register and commercialise its offering in several European markets. “We are pleased to have secured funding which will enable us to complete registration and commercialise our lead products that incorporate our proprietary SLF technology,” David Lawrence, chief executive of TTF. “The market for such products is both large and growing and we believe our unique technology will benefit patients, surgeons and hospitals by increasing device patency, reducing surgery times compared to vein harvesting and avoiding amputations.” © Crimson Business Ltd. 2009