The Angel CoFund has joined forces with Diagnostic Capital and existing investor Finance Yorkshire’s Seedcorn Fund to back medical technology company Concepta.
Funding worth £2.3 million has been secured for the women’s health company, one which was founded off the back of the work of former senior Unipath scientists.
To coincide with the funding, Concepta has secured the services of Ian Gilham as chairman and David Evans as director. Gilham is the former CEO of diagnostic company Axis-Shield (bought by Alere for £235 million) while Evans is currently chairman and investor at ‘a number’ of listed and private businesses.
Evans is serving as lead angel investor for the £2.3 million deal, representing a syndicate of high-net worth investors from Diagnostic Capital.
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Alex Clarkson, CEO of Diagnostic Capital, says, ‘We are very pleased to have helped Concepta secure this £2.3 million equity investment which can now combine with grants applied for, to provide enough capital to see the plan through to full commercialisation.’
The team behind Concepta, which has been backed by the Finance Yorkshire Seedcorn Fund since inception, were responsible for creating brands of digital fertility tests, pregnancy tests and other diagnostics including the Clearblue pregnancy tests.
Tim Mills, investment director at the Angel CoFund, adds, ‘We have been particularly impressed by the knowledge and experience of the Concepta team.
‘The further expertise that Ian Gilham and David Evans bring with them is invaluable and will be a real asset to Concepta.’
