London-based Braveheart Investment Group, through its wholly owned subsidiary Envestors Limited, has closed funding from private investors in Monaco as part of a £1.2m funding round for Cipher Surgical, maker of a laparoscopic accessory called OpClear. (It keeps a laparascope’s lens clear during surgery.)
Braveheart Investment Group plc (‘Braveheart’, the ‘Group’ or the ‘Company’) (BRH), the AIM-listed investment management group, announces that Envestors Limited, its wholly owned subsidiary, has closed funding from private investors in Monaco as part of a £1.2m funding round for Cipher Surgical.
Cipher Surgical presented at an event hosted by the Monaco Venture Capital Association (MVCA) at which Envestors was invited to participate. Donald Anderson, a resident of Monaco who works with Envestors, invested into Cipher Surgical alongside other Monaco-based private investors.
The OpClear product developed by Cipher Surgical is a novel solution to one of the key challenges facing surgeons in laparoscopy (minimally invasive surgery through the abdomen) – how to maintain soil free optics throughout an operation and ensure continuous operative surgical vision.
During laparoscopy, the lens of the laparoscope acts as the surgeon’s eyes. But it can become covered in fluid, blood, tissue, fat or condensation any of which will impair the surgeon’s view as projected on the external screen. To clean the lens the laparoscope needs to be removed from the patient’s abdomen causing an unwelcome break in the surgeon’s workflow and concentration.
The OpClear is a laparoscopic accessory comprising a single use device that fits to a laparoscope and uses fluidics in a novel way to clear the laparoscope lens. It is easy to use and has received endorsement from a number of leading laparoscopic surgeons.
Oliver Woolley, Founder Director of Envestors, said: “We have worked with Andrew Newell, CEO of Cipher Surgical, and the team for a couple of years and have watched the progress made by the company in developing this ground-breaking solution. We are most encouraged to see that Cipher Surgical has made good progress with its CE mark application and has agreed terms with a UK distributor. The product was also very well received at Medica in November 2012 and, more recently, at Arab Health.”
Andrew Newell, CEO Cipher Surgical Limited, added: “This additional funding will enable us to obtain our CE mark and launch into the UK. The fundraising ability and responsiveness of the Envestors team has been a great help to us.”