A team of corporate lawyers at Gloucestershire legal firm, BPE Solicitors, has advised breast imaging company, Micrima Ltd, in securing a new financing round of £2.6 million from investors.
Bristol based Micrima was established in 2006 to develop and commercialise microwave radar breast imaging technology. This new funding will support the accelerated development of the companys patented MARIA technology, which aims to enable safer, more comfortable and more accessible breast screening for women across the world.
BPE Corporate Partner, Tim Ward, was a key advisor on the deal, which saw investment from a mix of pre-existing institutional and individual investors, including the Venture Founders platform, and re-investing shareholders, including Technology Venture Partners LLP.
Roy Johnson, Micrimas Executive Chairman, commented: Breast cancer is the leading cause of death for women in many countries. The problem is that many tumours are not discovered early enough, largely due to the difficulty in discriminating between cancers and dense tissue using current imaging technology. Using harmless radio-waves, the MARIA imaging system is capable of detecting tumours and allows routine and repeated scanning without any of the safety or comfort concerns associated with x-ray mammography.
The funding comes at an important time for Micrima, after receiving a very positive reaction to the first clinical data from MARIA presented at the European Congress of Radiology in Vienna earlier this year.
Tim Ward said: We were delighted to advise Micrima at such a significant time in the companys development. At BPE, we enjoy working with such innovative businesses to help shape their growth and progression. This deal has created a fantastic opportunity for Micrima to take their technology forward, and we look forward to continuing to support them in the future.
The corporate team at BPE prides itself on the sound legal advice and support it provides to businesses throughout their development. They are more than just lawyers; they are trusted business advisers for their clients, aiming to help structure businesses to achieve sustained growth. From starting a new business to development through growth, joint ventures, buying, selling, or floating on the stock market, BPEs corporate team has the breadth and depth of experience to support a business through every stage of its lifecycle.