Wales Medaphor Sounds Out Investment

MedaPhor, a Cardiff University spin-out company, has raised £250,000 to develop a portable ultrasound machine simulator for medical training.

The company took in £75,000 from Fusion IP, the university intellectual property commercialisation company; £75,000 from Finance Wales, the investment subsidiary of the Welsh Assembly; and a £100,000 grant from SMART Wales, the Assembly’s award scheme for innovative ideas.   

The investment will be used to develop MedaPhor’s simulator for commercial launch into the UK and US markets in 2009.

Fusion IP now owns 35.2 per cent of MedaPhor, up from 32 per cent. (Wales Business Indsider)

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