Calon Cardio-Technology Ltd was formed in 2007 with financial support from founding executives and a Technology Strategy Board Collaborative Grant. The Company benefitted from £1.2m Welsh Assembly and Technology Strategy Board Grant funding in 2008 -11 for Industrial Research and Pre-Competitive Development activities.
The company subsequently completed a £1m Series A round in early 2010 with Longbow Capital and Finance Wales participating to secure its formation and progress initial design ideas.
In early 2013 Calon benefitted from £1.66m TSB Biomedical Catalyst Award to develop it novel discriminating in vitro assays and is pursuing further grant funding to refine its bearing designs. Calon completed the £6.9m Series B round with an investment of £2.5m in mid 2015 from new participants Envestors, Wren Capital and Syndicate Room plus Longbow and Finance Wales that has enabled the company to progress the MiniVAD into confirmatory animal studies.
Calon is currently progressing a Series C funding round, and is seeking to close a £5m round by end 2016, to undertake GLP animal studies, prepare for First in Human clinical trials, fit out a pilot assembly cell and enhance the management team. It will subsequently require £6m to conduct the First in Human study and a further £14.5m to achieve CE Mark. Investors interested in participating in the funding programme should contact email@example.com
Disclaimer: Calon Cardio's VAD devices are not available for sale in the United States of America