Veryan Medical, investment in novel vascular stents and grafts

Oxford, UK, 11 May 2007

Veryan Medical Limited (Veryan Medical), a developer of medical devices to improve the long-term effectiveness of medical care in patients with vascular disease, has announced a £3.1 million second round fundraising co-led by existing investors Oxford Capital Partners and Imperial Innovations. Existing investor NESTA also participated in the round.

The investment will be used to finance the addition of a range of proprietary SwirlflowTM vascular stents to Veryan Medical’s range of innovative products to address vascular disease. The company’s patented technology reproduces the geometry naturally found in the body’s vascular system to introduce a swirling motion to blood flow. This swirling motion acts to reduce restenosis – the blocking of arteries – caused by unstable blood-flow through implantable vascular devices. The helical device geometry also provides a significant improvement in structural durability, which further improves patient outcomes in the rapidly growing US$5 billion stent market.

The company’s first product SwirlGraftTM, which has received regulatory approval in the USA and Europe, offers a kidney dialysis access graft that demonstrably reduces the vascular disease that currently causes many existing grafts to fail prematurely and forces many dialysis patients to undergo repeated corrective surgery. Clinical trials in the Netherlands for the SwirlGraftTM Vascular Access Graft have already shown the advantage of this device over conventional grafts, and larger-scale trials are now underway in the US.

Philip Birch, CEO, Veryan Medical, said “This continuing support from our principal shareholders will facilitate Veryan Medical’s continued growth, and its development into the exciting and high value field of vascular stents.”

Susan Searle, CEO, Imperial Innovations, said, “Our follow-up investment in Veryan Medical is a clear sign of our confidence in the company and the team. Paul Gilson and Chas Taylor have much experience having previously built up a stent business and subsequently orchestrated its sale to Abbott Laboratories. Together with Philip Birch, they have demonstrated excellent progress.”

“Veryan Medical’s SwirlflowTM stent promises considerable physical and medical benefit to its users and Oxford Capital Partners is excited to be supporting the company in its efforts to commercialise this technology.” said Dr Victor Christou, Investment Manager at Oxford Capital Partners.

David Hunter, MD of NESTA Investments said: “We first invested in Veryan Medical in May 2004 when the company was at the very early stage and are delighted to continue to support it as it grows from strength to strength.”

Legal advisers were Alexander Paterson of Dorsey & Whitney acting for Veryan and Barry Maytum of Nabarro acting for Oxford Capital Partners.

Information for editors

Please contact:
Joanne Telford
Oxford Capital Partners
Tel: 01865 860 760
jtelford@oxcp.com
www.oxcp.com

About Oxford Capital Partners

Oxford Capital Partners is a science and technology venture capital firm with extensive experience in investing in and supporting businesses with high growth potential. Oxford Capital Partners looks for the best opportunities, backing exceptional entrepreneurs and investing across all stages of development, from start-up to IPO. Leveraging its extensive networks, Oxford Capital Partners assists portfolio companies in accessing international markets in Europe, the US, Middle East and Asia. Oxford Capital Partners is the manager of four Oxford Gateway Funds and oversees a portfolio of over 25 companies in a range of technology sectors, including ICT, clean technologies, life and physical sciences.

Oxford Capital Partners was named Venture Capital House of the Year 2005 at the Unquote Awards.

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