Camstent has closed its latest funding round, raising a record £850,000 from a combination of existing and new investors. Thanks to enormous interest in the company’s patented bacteria-phobic polymer coatings, the initial investment target of £300,000 was extended, nearly trebling the total amount raised during the round.
Camstent today announced that Joe Byrne has joined the company as Chief Operating Officer (COO). Joe will be responsible for overseeing the scale up of Camstent’s operations ahead of receiving regulatory approval for the company’s first product, the Camstent Foley Catheter, in Q4 2016. Camstent recently opened its first manufacturing facility as it prepares for product launch.
As part of the next stage of its development, Camstent has opened its first pilot production facility. Located on the Colworth Park Science Park in Sharnbrook, UK, the manufacturing site enables Camstent to create fully coated medical devices, beginning with catheters, using its patented bacteria-phobic polymer coatings. These change the physical properties of surfaces to make them inhospitable to bacteria, thus preventing colonisation, and dramatically reducing infection rates. This not only saves lives but increases efficiency for healthcare providers, saving them billions of pounds every year in terms of treatment costs and extended hospital stays.