NW Fund woos medical devices firm to region

THE NORTH West Fund has lured a pioneering medical device developer to the region from Oxford.

Cerus Endovascular will be relocating to Liverpool Science Park after agreeing a £600,000 investment from the North West Fund for Biomedical.

The company has developed a minimally invasive implantable medical device for treating intra-cranial aneurysms

The funding, which was part of a £1.5m investment round, will be used by Cerus Endovascular to help initiate product development and to fund more in-depth clinical trials.

Todd Derbin, executive chairman of Cerus Endovascular, said: “We believe our device represents the next generation in the minimally invasive treatment of neurovascular diseases, particularly intracranial aneurysms.

“We’re delighted to be working with SPARK Impact and The North West Fund for Biomedical. The investment means we can further develop our technology, which addresses unmet clinical needs in the interventional neuroradiology, cardiovascular, urology and gastroenterology markets.”

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said: “We are delighted to have Cerus Endovascular on board and to make this investment in a high quality service which is an asset to the North West and to SPARK’s biomedical portfolio.”

Cerus Endovascular is The North West Fund for Biomedical’s 52nd investment to date.

Manchester-based Epiphany Capital advised the company on the fund-raising.