Venture capital firm advises client on £7.5m surgical investment
TLT’s venture capital team has advised long-standing client Sussex Place Ventures on its investment alongside Draper Esprit in a $10m (£7.5m) series C round investment in Endomag.
Endomag is a UK-based surgical guidance technology spin-out of University College London and University of Houston, dedicated to improving the global standard of cancer care. It offers a unique clinical platform using magnetic fields to power diagnostic and therapeutic devices.
Sussex Place Ventures is an early stage venture capital investor backing software and digital companies and businesses with strong patent-protectable technology.
John Brimacombe, operating partner at Sussex Place Ventures, said: “Endomag is carving out an impressive position in healthcare solutions and we are delighted to continue to support their global expansion.
“TLT delivers the same high standards of service and communication on each deal we instruct them on, which is why we continue to use Jon and the team.”
The funding will be used to grow Endomag’s global capabilities as it develops a patent-protectable technology to improve the standard of breast cancer care.
TLT advised Sussex Place Ventures when it led a £2m investment round in Endomagnetics, as it was known in 2014.
The TLT team acting on the latest investment was led by corporate partner Jon Gill, with support from tax legal director Mark Braude and corporate associate Bryan Shaw.
Jon Gill, partner at TLT, added: “The venture capital market continues to be very active, and we are seeing an increasing amount of capital flowing into healthcare technology ventures at present.
“We were delighted to support the Sussex Place Ventures team on this latest follow-on investment within their portfolio and wish Endomag and their wider stakeholders continued success in their global expansion.”