Creo Medical Group, a biotech firm based in South East Wales, has floated on AIM after raising £20m from investors.
The company, which has been backed by Finance Wales, Pentax Medical and the Angel CoFund, specialises in the field of surgical endoscopy.
Founded in 2009, Creo produces an innovative device that allows physicians to operate without puncturing the patient’s skin.
Craig Gulliford, CEO of Creo, commented on the listing: “We are very excited to have received such strong support from UK and European investors in raising £20m. The AIM market in London has allowed us to attract the type of long-term institutional investors whose outlook fits nicely with our vision for the growth of the company and execution of our business model. London is a great market and we believe the AIM market is an excellent platform from which we will continue to build a leading British medical device company.”
The CEO went on to note that the company remained committed to improving patient outcomes and that the funds raised from the IPO would be channeled towards the development of its lead products.
The Rt Hon. Alun Cairns MP, secretary of state for Wales, commented on the IPO and took the chance to highlight’s Wales’ burgeoning tech sector.
“I am delighted to congratulate the Welsh based company, Creo Medical Group on their success. Wales’ economy continues to go from strength to strength and it is great to see such a cutting edge and innovative business in Wales achieving such growth. Their ambitions are an inspiration for other companies across Wales and send a strong message that there are great opportunities in Wales for businesses to flourish,” he said.