16th Feb 2015 07:49
LONDON (Alliance News) - UK-based medical devices company Michelson Diagnostics on Monday said it has closed GBP2.5 million of its latest funding round, with FTSE 100-listed medical devices group Smith & Nephew becoming a cornerstone investor and taking a seat on its board.
Smith & Nephew has invested GBP1.25 million in Michelson, and Andrew Boyes, currently senior vice-president of strategic initiatives at Smith & Nephew, will join the Michelson board.
Michelson is focused on the development of VivoSight, a point-of-care tissue-imaging system that for the first time allows users to see below the surface of the skin.
"We are delighted to welcome Smith & Nephew both as a new investor and also to our board. Andrew Boyes brings a wealth of medical device development as well as industry-specific commercialisation expertise, which will prove invaluable through the next phase of growth at Michelson," said Michelson Chairman Brian Howlett.
By Sam Unsted; [email protected]; @SamUAtAlliance
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