Ablatus secures £500,000 in private finance deal
Our recent work with Innovate UK EDGE innovation and growth specialist Emma Douglas-Beet has helped Ablatus to find the £500,000 match funding it needed to secure an Innovate UK Smart Grant of £1.42 million. Fundraising activity continues alongside ongoing product development.
The funds were required for final pre-clinical testing and to create a pre-commercialisation product suitable for first-in-human use, to support CE marking.
Emma’s background in preparing companies for equity fundraising was particularly valuable in this case, she said “We started working together to get the ‘offer’ as clear as possible before then going out to raise the finance needed, around £500,000. Despite a history of successful fundraising, this was different owing to the tight timescales they faced. Brexit was creating uncertainty in the investor community and Covid-19 was just breaking too.”
“Fortunately, the prospect of receiving such a large sum from Innovate UK helped limit the risk significantly and Ablatus achieved its target through various funds and equity investors.”
Dr Natalie Hayes, our Chief Medical Officer said “It has been enormously helpful for us to have had support from Innovate UK EDGE … in terms of connecting us with potential investors and also with regard to fine-tuning our pitch deck, presentation materials and communication when going out to fundraise.”