Oval Medical Technologies, a Cambridge, UK-based developer of proprietary medical pre-filled syringes and autoinjectors, raised seed funding from a medical technology firm Team Consulting.
Team Consulting joins The Cambridge Angels and Cambridge Capital Group, to provide the company with near to £0.5m of new funds in exchange for equity.
This capital will enable Oval Medical to advance the development of its injection technology, including the production of new drug containers and prototype injection devices for validation by pharmaceutical partners.
In conjunction with the financing, Team Consulting’s CEO, Jerry Turner, will join the board of the company along with other investment representatives, including Phil O’Donovan, Steve Dawson, Catherine Beech and Barbara Lead.
FinSMEs
22/03/2010