A Cambridgeshire-based surgical augmented intelligence company has been backed with a £1.3m investment from Downing LLP which will help to grow its international customer base.
Cydar Medical is based in Barrington and was established by vascular surgeon Tom Carrell and imaging scientist Graeme Penney to improve endovascular MIS.
Its first product, Cydar EV Maps, is a cloud-based software that is being used by more than 30 hospitals in the UK, US and Europe.
The product creates a patient-specific 3D map of soft tissues, integrating the process of procedure planning, intra-operative navigation and post-procedure review.
It results in easier and quicker procedures and reduces the radiation exposure for the patient and clinical team and improved clinical outcomes.
The investment, through Downing Healthcare Ventures EIS fund into ordinary shares in the business, will support the growth of Cydar’s international customer base as well as the ongoing development of Cydar EV Maps.
Matt Pierce, healthcare principal, Downing Healthcare Ventures, said: “Cydar Medical has a well-rounded management team which includes technical founders and a commercially focused chief executive. The team takes a data-led approach aiming to make Cydar the standard of care for endovascular surgery.
“Its technology works with imaging hardware that surgeons currently use and can slot into the existing workflows without disruption whilst delivering improved visualisation and data insights. We look forward to working with the company and management team to achieve their goals.”
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Paul Mussenden, chief executive, Cydar Medical, added: “We are very pleased to be partnering with Downing who supports our mission to ensure every image-guided endovascular procedure goes exactly as planned. At this exciting stage in our business, we are rapidly scaling up our activities and leveraging a range of strategic commercial partnerships to grow our installed product base.
“Downing’s extensive experience and expertise in the healthcare space will be invaluable as we continue to build and develop our strategies and capabilities in key markets.”
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