The Electrospinning Company Ltd. announced it expects to receive £4.5 million in funding from Intuitive Investments Group Plc and Confluent Medical Technologies, Inc. The company completed a private placement of 8,181 common shares at a price of £550.055 per share for gross proceeds of £4,499,999.955 on May 4, 2021. On the same date the company raised a first tranche from new investors Confluent Medical Technologies, Inc. and Intuitive Investments Group Plc (AIM:IIG). As part of that tranche, the company issued 909 common shares to Intuitive Investments Group Plc, representing a 4.4% stake. The announcement frames the funding as expected receipt of the £4.5 million from the two named investors. No operating metrics, past rounds, founding year, or location were disclosed in the provided article. The Electrospinning Company designs, develops and manufactures electrospun biomaterials—'nanofibre scaffolds'—for implantable tissue-regenerative devices and sells Mimetix laboratory research products. Its scaffolds, made from synthetic polymers, are tailored to mimic the body's extracellular matrix and to degrade or reabsorb naturally once a patient has healed. The technology is used in applications such as tendon surgery alongside orthopaedic devices, and the company supplied the first electrospun material used in an FDA-approved medical device, which it has been selling in the US for two years. The company operates a purpose-built manufacturing facility with cleanrooms on the Harwell Science and Innovation Campus near Oxford and holds ISO 13485 medical device quality certification. It is developing a synthetic alternative to amniotic membrane to expand access to wound-healing and eye-surgery bandages, building on earlier collaborations with the University of Sheffield and the LVPrasad eye clinic. Recent financing will support scaling capacity, enhancing the technology platform, growing sales of existing products and developing new biomaterials. The Electrospinning Company develops and manufactures nanofibre structures and scaffolds using the electrospinning process, focused on the biotech and stem cell therapy sectors. Founded in 2008 by the Rutherford Appleton Laboratory and based in Oxford, UK, the company concentrates on nanofibre innovation and development. Its core products are electrospun nanofibre scaffolds tailored for stem cell applications. Financial details in the article include prior seed funding and a new angel round, but no revenue or user metrics are disclosed. The company received roughly £100k in initial seed funding during 2008–2010 and has since secured additional angel capital. A lead angel from London Business Angels has joined the company’s board, suggesting active investor involvement.

Total raised

$9M

Funding rounds

3

Latest round

Equity

Latest activity

May 2021