Law firm fixes it for medical equipment company
A medical equipment maker pioneering a new way of healing fractures and broken bones has secured a funding injection - with the help of law firm Ward Hadaway.
Cambfix specialises in medical devices for use in orthopaedic and trauma surgery.
The company, which was founded in 2004, has developed patented technology that heals fractures without leading to complications such as infections, stiffness and inability to move.
It has now secured new investment of £130,000 from the North East Equity Matching Fund (NEEMF) and the University of Cambridge to help commercialise its technology.
Damien Charlton, partner in the commercial department at Ward Hadaway, led the firm’s team on the deal. Damien said: “Cambfix has developed real cutting edge technology to address a problem found around the world. We are really pleased to have helped the company to secure this investment which will help to bring that technology to market.”
Cambfix’s initial products are targeted at the estimated 1.5 million ankle and wrist fractures which occur every year in the US and Europe.
Cambfix claims that over a third of these cases develop a complication during treatment such as infection, stiffness, loss of fracture position and loss of productivity which its technology will address.
The technology has already received widespread recognition, winning the University of Cambridge business creation competition and getting through to the final of the Medical Futures Innovation Awards.
Linda Pomeroy, co-founder of Cambfix, said: “This technology has the potential to be used in hospitals and trauma centres across the world, not only saving the healthcare sector valuable funds, but also improving the comfort and recovery of thousands of patients.
“This latest investment will enable us to take the next steps forward so we are grateful to Ward Hadaway for their hard work in helping to secure the funding.”