Press Release on Fundraising for Advanced Tissue Therapies 6th February 2007.
Imperial Innovations Group plc (AIM: IVO), the technology commercialisation and investment company, today announces that it is investing £469,000 in Advanced Tissue Therapies (”ATT”), a biomaterials company that develops tissue engineering products aimed at orthopaedic and maxillofacial markets. The investment in ATT is part of a £769,000 seed funding round that also includes a £50,000 investment from Mr. Mark Rowan.
Mr Rowan, who is a Non-executive Director of Imperial Innovations Group plc, will also become a Non–executive Director of ATT.
ATT will use the investment to develop two generations of products that promise better clinical outcomes for patients than current treatments. The first is a series of bioactive glasses with innovative features designed to promote bone growth that have been developed by Dr Molly Stevens and Professor Robert Hill of the Department of Materials at Imperial College London. The second is a family of materials designed to help the body repair soft tissues as well as bone.
Susan Searle, CEO, Imperial Innovations, said,
“Advanced Tissue Therapies is a company built upon both strong research and real entrepreneurial drive. We look forward to supporting them as they develop and market their products, for which we would anticipate strong demand in established markets.”
Daniel Green, ATT CEO, said,
“The quality of our technology gives us a firm foundation, beyond that of most start-ups. We are delighted that our investors have demonstrated their confidence in our ability to develop it for the benefit of patients.”
