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23 Feb 2012 Calon Cardio-Technology, Series B funding

Calon, the innovative LVAD pump company, today announces the closing of a £1.5m Series B round that will provide sufficient funding to conduct in-vivo testing of its lead product, the MiniVADtm  during 2012.  The round was lead by Longbow and co-investor Finance Wales. 

Commenting on the closure of the funding round, Chairman Prof Marc Clement said “we are delighted to have secured this funding to allow us to drive the company forward and move to an important proof of concept point during 2012, plan further studies in 2013 with confidence, develop the core technology to a point where we are confident that we can meet the goals we set for ourselves when we founded the company and of course, strengthen the team. We are delighted to have Longbow and Finance Wales as funding partners who can support us in the long term.

Richard Thompson, Investment Director of Finance Wales said “Calon is exactly the type of company we should support. Innovative engineering applied to a difficult, growing medical challenge. We look forward to supporting Calon in the pursuit of their goals.”

Similarly Ron Petersen, Investment Director of Longbow said “We have several other investments in the South Wales area and are confident this will be at least as successful as those ventures.  I look forward to joining the Board on behalf of Longbow and to helping shape Calon’s destiny’

For more information, contact Prof Marc Clement, Chairman, Calon Cardio-Technology, on 01792 602811

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Disclaimer: Calon Cardio’s VAD devices are not available for sale, including in the United States of America