Camstent, a business headquartered in Colworth, Bedfordshire creating proprietary bacteria-phobic polymers, has successfully completed a funding round to raise £600,000 for the growth and development of the company.
It supplies to medical equipment manufacturers throughout the UK, and aims to use the funding to prolong clinical evaluations and to continue pursuing regulatory milestones. Beyond this, the money will be spent on boosting its executive team with a handful of new appointments.
Some of the investment will also be put towards improving Camstent’s laboratory space, so as to better manufacturing processes and heighten the production of Foley catheters coated in polymers. The production of its patented coating to supply to other in-body medical devices will also be increased.
Chief technology officer of Camstent, Dr Dave Hampton, said: “This latest fundraising marks a step-change for Camstent as we move from small-scale manufacturing to a much larger capacity.
“We are extremely pleased with the support we have received from investors and it demonstrates the growing interest from the healthcare sector in our novel approach to tackling patient infections caused by medical devices.”
Studies have revealed that hospital acquired infections (HAI) cost the NHS an estimated £1 billion annually, with catheter acquired urinary tract infections (CAUTI) being one of the greatest contributors to the steep costs. Therefore, Camstent’s products are likely to control the development of such infections, assisting hospitals in reducing their expenditures as a result.