Member Article

Cerus Endovascular secures £600k from North West Fund

The North West Fund for Biomedical has announced a £600,000 investment into a firm which has created an implantable medical device for treating intracranial aneurysms.

Cerus Endovascular Ltd, which is currently headquartered in Oxford, was able to receive the fund because it is soon to relocate to Liverpool Science Park.

It has recently developed a minimally invasive device for the interventional neuroradiology (INR) market.

The funding, managed by SPARK Impact, was part of a £1.5m investment round, and will be used by Cerus Endovascular towards product development and for in depth clinical trials.

Executive chairman of Cerus Endovascular, J Todd Derbin, commented: “We believe our device represents the next generation in the minimally invasive treatment of neurovascular diseases, particularly intracranial aneurysms.

“We’re delighted to be working with SPARK Impact and The North West Fund for Biomedical.

“The investment means we can further develop our technology, which addresses unmet clinical needs in the interventional neuroradiology, cardiovascular, urology and gastroenterology markets.”

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said: “We are delighted to have Cerus Endovascular on board and to make this investment in a high quality service which is an asset to the North West and to SPARK’s biomedical portfolio.”

The North West Fund for Biomedical is part of the wider £155m North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.

This was posted in Bdaily's Members' News section by Miranda Dobson .