Thursday, 22 December 2016

An injection of capital!

Let's have it! 'Large, boss?' Yes! Yes, well, small. Small PR email, really, to finish off the year.

Oval Medical Technologies, an investee company of Turquoise International, has been acquired by SMC Ltd, the US-headquartered medical device manufacturing firm. Being acquired by SMC Ltd is an exciting development for Cambridge-based Oval as the business will benefit from the superior manufacturing capabilities of SMC Ltd, allowing Oval to deliver compact and pain free medical administration to the public.

Okay. What about the migraines? I get them, you know, dear reader(s).

Producers of small, user-friendly autoinjectors, Oval Medical has developed an innovative range of medical infusion devices following an investment of £1.25 million from the Low Carbon Innovation Fund (LCIF). The fund aims to provide finance to early and growth stage businesses to enable them to develop new technologies. Oval Medical was judged to be a perfect candidate for early stage investment and the support meant that Oval Medical could refine its product, developing an autoinjector that meets 21st century drug delivery needs.

Okay. What about the migraines?

The autoinjectors enhance medical safety and reduce a patient's fear of needles by administering medication via a simple two-stage process. They are also small enough to be carried discreetly. Managed by Turquoise International, the LCIF fund has invested over £20 million in SMEs in the East of England as part of the government's Solutions for Business portfolio.

Fine. And the migraines?

Desmond Astley-Cooper, director at Turquoise International, was pleased with the deal. He said: "This is exciting news for the fund, which aims to invest in technology that will develop quickly and fill a need in the marketplace. We're delighted that the fund could support the growth of this exciting business. It is particularly satisfying to see that, in this instance, the product will bring a real benefit to the medical world."

Thanks, Des. Nice turquoise tracksuit, by the way.

Oval produces devices for multiple uses including an epinephrine autoinjector to treat anaphylactic shock, whilst a Sumatriptan auto injector is being developed to treat patients with migraines and cluster headaches.

Ah, migraines! But what the hell are cluster headaches? 'I've heard of cluster fuc -' Yes, thank you, Voice. That will do.


And that will do. Christ! Where did the year go? / Have a nice Christmas, dear reader(s). I'll see you next year. 'In the New Year, boss.' Yeah. Whatever.