The corporate team at Penningtons Manches Cooper has acted for The Electrospinning Company (Electrospinning) on the completion of a £4.5 million fundraising round, its largest to date. Electrospinning is a leader in the development and manufacture of nanofibrous biomaterials for use in tissue regenerative devices. The investment was led by Confluent Medical Technologies Inc, a US company specialising in the application of materials science to implantable products.
Funding was also provided by existing investors including Downing Ventures and the Science and Technology Facilities Council and new investor, Intuitive Investments Group plc.
Located on the Harwell Science and Innovation Campus near Oxford, Electrospinning uses its expertise and experience to support clients in a range of different therapeutic conditions and supplied the first electrospun biomaterial to be incorporated into an FDA-approved medical device.
The Penningtons Manches Cooper deal team was led by senior associate Attilio Leccisotti working alongside partner Will Axtell and associates Leonie Byers and Olivier Jacquelin.