Medtech startup Creo has raised $5.5m to continue the development of its innovative medical devices.
The Chepstow-based company’s core product is an electrosurgical device that can be of use during complicated medical procedures.
The investment comes from Finance Wales, angel investors and the Angel CoFund.
European and American focus
Founded in 2009, Creo has achieved regulatory approval for the European market and has also established a pathway into the US market.
The investment will be used to develop its CROMA system and focus on providing clinical solutions to complex gastrointestinal problems.
Craig Gulliford, CEO of Creo, praised the addition of valuable investors to the business:
Since launch, Creo Medical has benefited significantly from the support both financially and on a business development level, from highly experienced angel investors in the medical and life sciences sectors.
Today’s funding announcement marks an important step change for the team, as we focus energies on Europe and the USA.