Halo Business Angel Network (Hban), an all-island organisation responsible for the promotion of business angel investment, has announced that its medtech syndicate has led a €1.1m Series A funding round in medical device start-up, Ostoform. Halo Business Angel Network (Hban), an all-island organisation responsible for the promotion of business angel investment, has announced that its medtech syndicate has led a €1.1m Series A funding round in medical device start-up, Ostoform. Hban Angels contributed €280,000, with venture capital investor, SOSV, Enterprise Ireland, and other angel investors making up the rest of the funding round. The €1.1m investment will help Ostoform to expand its team by five, as well as fund the patient trials and regulatory approval required to commercialise and distribute its patented technology in both the United States and Europe, the company said. Commenting on the investment, Ostoform CEO Kevin Kelleher said that the investors also bring "invaluable expertise and experience" that will help the company to scale.

Source: Irish Independent October 01, 2018 06:22 UTC