Camstent Ltd., the Company developing proprietary bacteria-phobic polymers to apply to medical devices, has successfully closed an oversubscribed fundraising of £600,000. The funds will be used to continue clinical evaluations, pursue regulatory milestones, and allow Camstent to make key appointments to the executive team.
Camstent will also use the funds to double its manufacturing and lab space. The increased capacity will enable the company to increase production of its unique polymer coated Foley catheter, and apply its patented coating to other in-body medical devices to develop new products.
Hospital acquired infections (HAI) cost the NHS approximately £1 billion every year and one of its biggest contributors is catheter acquired urinary tract infections (CAUTI) which are caused by bacterial colonisation of a catheter’s surfaces. The polymer coating has been reported to resist attachment of bacteria to its surfaces and this is currently being evaluated in in-human studies at six UK hospitals. Initial results are expected to be announced in mid-March.
Dr Dave Hampton, CTO of Camstent, said: “This latest fundraising marks a step-change for Camstent as we move from small-scale manufacturing to a much larger capacity. We are extremely pleased with the support we have received from investors and it demonstrates the growing interest from the healthcare sector in our novel approach to tackling patient infections caused by medical devices.”
Camstent’s CE marked Coated Foley catheter is already approved for sale in the UK and EU and is being successfully used in hospitals in the UK.*
*The Camstent Coated Foley Catheter is intended for the drainage of urine from the urinary bladder; the coating enhances lubricity, significantly reducing insertion force.