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Camstent closes GBP850,000 funding round

Medical materials manufacturer Camstent has raised GBP850,000 from a combination of existing and new investors in its latest funding round.

Thanks to interest in the company’s patented bacteria-phobic polymer coatings, the initial investment target of GBP300,000 was extended, nearly trebling the total amount raised during the round.
 
Currently one in 20 inpatients suffer from a hospital acquired infection (HAI), leading to the loss of thousands of lives globally and adding to costs for healthcare providers.
 
Government research found that a 10 per cent reduction in infections could save the NHS GBP100 million per annum.
 
Camstent’s patented bacteria-phobic polymer coatings help better protect against HAIs, changing the physical properties of surfaces to make them inhospitable to bacteria, thus reducing colonisation, and dramatically lowering infection rates. Laboratory studies have shown that Camstent coated products perform longer and are more effective than market-leading alternatives.
 
The funding will be used to bring the Camstent Foley Catheter, its first product, to market. This is designed to help combat catheter acquired urinary tract infections (CAUTI), which represent 38 per cent of all HAIs. CE mark approval for the device is expected in Q4 2016, enabling Camstent to begin product shipments from its recently opened Colworth Park manufacturing facility in Bedfordshire, both for trials and first volume sales. 
 
As part of its move from research and development to volume sales, Camstent has also appointed Joe Byrne as chief operating officer, responsible for overseeing the scale up of Camstent’s operations. Byrne joins from fibre optic cable manufacturer m2fx, where he played a lead role in growing the business from a start-up to its sale to Belden in early 2016.
 
“Hospital Acquired Infections are a serious issue for both patients and healthcare providers, adding to costs and leading to needless deaths around the world,” says Byrne. “Current antimicrobial coatings for medical devices fail to prevent infection, but our innovative patented polymer coating has been proven in the lab to resist bacteria colonisation and inhibit biofilm formation. This new funding round will accelerate our growth and enable us to bring our first products successfully to market.”

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