Chepstow-based biotech company Creo Medical is to list on AIM, the fourth Finance Wales portfolio company to list on AIM in the last four years.

Steve Smith, director, Technology Venture Investments, Finance Wales, said: "Our initial investment in 2012 led them to relocate their headquarters and product development facility to Chepstow.

"We’ve since supported the firm over multiple rounds of equity investment and leveraged significant private and corporate co-investment in the process.

"It’s exciting to see yet another Welsh life science company list after support from our technology venture investments team.

"Raising £20m in their debut on AIM will allow them to complete key product development programmes, secure regulatory approvals and drive early sales in Europe and the US.

“We’re an active technology investor, offering debt and equity investments to a range of technology-focused businesses in the SAAS, Artificial Intelligence, data analytics, med tech, clean tech and advanced materials sectors. Through our Technology Seed Fund and later stage Technology Venture funds, we are able to support businesses from start up, through commercial growth to eventual exit.

“As well as supporting indigenous businesses Finance Wales - in partnership with Welsh Government - targets high calibre technology businesses willing to relocate to Wales to benefit our seed and growth capital.

“Our dedicated Technology Venture Investments team have invested nearly £8m already since April this year, leveraging significant private sector co-investment.”

Dr Richard Thompson, senior investment executive, Finance Wales, said: “We’ve been investing in Creo Medical since 2012 – investing more than £3m over multiple funding rounds – with an additional £1.9m being invested at IPO. This has been done in collaboration with extensive co-investment from a brilliant group of angel investors and most recently Japanese corporate Hoya Group Pentax Medical.

“Creo’s innovative technology has real benefit to the medical community and is supported by an award-winning management team. They are an emerging med-tech leader and its CROMA electrosurgical platform is ground breaking and has significant potential to improve the outcomes of a range of medical procedures. It has always been a pleasure to work with Craig and the Creo team. We wish them every success in building Creo into a very significant med-tech listed company.”

Picture 1: Richard Thompson, Investment Executive, Finance Wales; Craig Gulford, CEO, Creo Medical; Mark Farmer, Angel investor (Eden Ventures) and board member, Creo Medical

Picture 2: Steve Smith, Technology Venture Investments Director, Finance Wales

Picture 3: Richard Thompson, Investment Executive, Finance Wales

For more information, please contact:

Jayne Lutwyche

Tel: 029 2033 8128

E-mail: jayne.lutwyche@financewales.co.uk

Media centre: www.financewales.co.uk/media

Social media links:

twitter.com/financewales

https://www.linkedin.com/company/finance-wales

https://www.facebook.com/financewales

ENDS

Notes to editors:

About Finance Wales

Finance Wales was established by the Welsh Government in 2001 and provides commercial funding to small and medium-sized businesses throughout Wales to enable them to realise their potential for innovation and growth. The company is part of the Finance Wales Group and in 2015 -16 Finance Wales invested over £45.6 million through 201 debt and equity investments in 185 growing Welsh businesses.

Finance Wales is currently managing a number of funds in more Welsh SMEs than ever:

• The £136 million Wales Business Fund, backed by the Welsh Government and European Regional Development Fund, is the successor to the now full invested Wales JEREMIE Fund.

• The £40 million Wales SME Investment Fund which is backed by the Welsh Government and Barclays and invests in micro, small and medium-sized businesses.

• The £12 million Welsh Government-backed Wales Micro-business Loan Fund.

• The £10 million Wales Technology Venture Investment Fund launched in February 2016

• The £10 million Wales Property Development Fund which makes loans to Small and medium-sized Welsh construction companies developing small-scale, non-speculative commercial and residential property.

• The £25 million Wales Capital Growth Fund - Launched in April 2014 and backed by the Welsh Government, the Wales Capital Growth Fund provides short-term loan funding to Welsh SMEs with a maximum repayment term of 18 months.

• The £7.5 million The Wales Technology Seed Fund - The five-year Fund is aimed at technology start-ups, university spin-outs and IP-rich companies to help them commercialise their innovative products and technologies and bring them to market.

The Finance Wales Group, one of the UK’s largest SME investors, has in excess of £990 million of funds under management across all SME investment fund and the Help to Buy – Wales scheme. The Group has invested more than £484 million through more than 4,018 investments.

Attachments

• Richard Thompson - Craig Guildford - Mark Farmer.JPG Richard Thompson - Craig Guildford - Mark Farmer.JPG

• Richard Thompson.jpg Richard Thompson.jpg

• Steve_Smith_10.jpg Steve_Smith_10.jpg

Click to Unsubscribe

[#RL-337:636167265510163314#]