Angel CoFund invests in 40th company as it pairs up with London Business Angels

April 8, 2014

Albert Medical Devices has banked £940,000 of growth capital in what represents the third round of funding for the business.

The deal has been led by the Angel CoFund, a £100 million pot of capital funded by the British business bank and government, as well as the SPARK Impact-managed North West Fund for Biomedical and London Business Angels.

Following on from a seed round worth £300,000 in April 2012, the money it has now garnered will be used to continue development of the company’s ‘flagship’ product. Albert Medical’s melio leg bag is a catheter leg bag, which provides a patient warning system and control panel.

Albert Medical Devices now hopes to launch the melio leg bag in what it has identified as ‘key healthcare markets’, whilst also focusing on next generation product development.

Read the full article on growthbusiness.co.uk website here.