NEW INVESTMENT: OXFORD ENDOVASCULAR
Convergence Partners invests into Oxford University spin-out Oxford Endovascular (‘OE’). Convergence has participated in a €7.5m funding syndicate alongside Additio Investment Group, Lionsun and SWIP Group, joining existing investors Parkwalk and Oxford Sciences Innovation (OSI). OE are developing a novel treatment for treating brain aneurysms. The OE technology uses an origami engineering-based special laser-cut metal alloy which has a shape-memory. It can be posted into a catheter during surgery, inserted into the brain and opened up into a tiny tube mesh (‘flow diverter’) that fits into the natural shape of the blood vessel. This diverts the blood away from the aneurysm, allowing it to heal. Targeting a market over €1bn, that is growing rapidly, OE is poised for significant increased value as it addresses unmet clinical needs. The company has raised over €10m to support its development including winning a prestigious Horizon 2020 grant from the European Union following extensive due diligence by medical, industry and investor experts. Convergence is excited to actively support the scale-up and internationalisation of this high-potential and disruptive technology.