Fusion IP, the university IP commercialisation company, has announced that Asalus Medical Instruments has completed a £1.25m funding round.
The funds will be used to complete the manufacture and CE marking of its Ultravision technology prior to its planned launch in the second half of 2013.
Ultravision — a smoke clearance device in which electrosurgical smoke is cleared from minimal access and open surgical procedures — is one product in a range of laparoscopic surgery devices being developed by Asalus.
Asalus’s two other products are Surehold, a multi-functional device for the atraumatic manipulation of tissues and organs; and Snugport, a laparoscopic access port that is claimed to provide significant benefits over those currently on the market.
The £1.25m funding includes investments from existing investors Fusion, Finance Wales and IP Group.
As a result of the funding, Fusion will own a 44 per cent undiluted shareholding in Asalus.