Creavo Medical Technologies is a University of Leeds spin‑out and UK‑based med‑tech company that has developed a deployable diagnostic technology using magnetocardiography (MCG) to measure electromagnetic fluctuations caused by heart activity with extremely sensitive detectors. Its Vitalscan device can more accurately 'rule out' heart‑related problems at point of admission to emergency departments and is estimated to be able to save the NHS £200 million a year. Creavo's core technology has a range of potential applications beyond emergency detection, including helping to better understand and predict arrhythmias that can result in sudden cardiac death and supporting diagnostics in other organs. The company completed an oversubscribed £13.4 million fundraising that exceeded its funding target and was strongly supported by existing shareholders and new investors. Investors named in reports include Parkwalk Opportunities Fund (Parkwalk Advisors), IP Group plc, the University of Leeds and Puhua Capital Ltd, alongside other private and institutional investors from Europe, the USA and China. Proceeds will be used to progress toward a full commercial launch in Europe, conclude the UK clinical study, build a US operation and associated clinical study, and conduct further research to expand the technology's applications.

Total raised

$17M

Funding rounds

1

Latest round

Equity

Latest activity

Jul 2017