London Business Angels (LBA) Syndicate Helps To Close Oxtex's £150k Funding Round
Online, March 21, 2012 (Newswire.com) - Early stage Oxford based medical device specialist, Oxtex, has completed a £150k funding round which included investment by a syndicate of LBA angels. The company, a spinout from the University of Oxford ,is developing a product range based on hydrogel technology which provides novel soft tissue expansion solutions which can address a wide range of clinical applications across reconstructive surgery and dentistry. The new funds will enable the company to develop its technology further, progress its goals of gaining appropriate medical approvals for use in the EU (MHRA) and the U.S.A (FDA), establish a small clean room manufacturing facility for the production of clinical devices and initiate clinical trials.
Oxtex Limited is a medical company from Oxford University that specialises in manufacturing anisotropic self-inflating tissue expanders. They were recently highlighted in The Spectator as a "venture to watch" and the type of business that will help Britain's economic future.
David Jackson, Oxtex CEO comments, "Raising early stage capital for high technology businesses is always a challenge but one that is made much easier with a well organised Angel network. We were most pleased to have several members of the LBA network support our last funding round and look forward to working with LBA again in the future. I would certainly recommend LBA to any early stage company looking to raise Angel investment"
Anthony Clarke, CEO of Angel Capital Group and Managing Director of London Business Angels comments, "LBA is delighted to have helped David and Oxtex to successfully raise the early stage funding needed to develop the company's innovative range of products further. The company presented to the LBA community in September last year and received a good response on the evening. We are excited by the company's growth potential and look forward to helping them in raising development capital in future fundraising rounds."
