TLT has advised Micrima, the Bristol-based cancer screening company, on a £4.4m equity funding round to support the further development and commercial launch of its breast imaging system, MARIA.
The funding was led by Technology Venture Partners, The Angel CoFund (ACF), Venture Founders and several individual investors, bringing the total amount raised by Micrima to £10.7m.
Micrima was founded as a spin-out from the University of Bristol in 2006. MARIA is aimed at making breast screening safer, more comfortable and more accessible to a larger proportion of the global female population. This latest funding round will be used to further develop MARIA and move the system into full commercial launch, as well as to make strategic hires.
Jon Gill and Bryan Shaw from TLT advised Micrima on the legal aspects of the investment, working alongside Micrima's management team.
Roy Johnson, executive chairman at Micrima, says: "We are very pleased to have completed our latest funding round. This capital is vital to the continued growth and development of our business and the launch of our ground-breaking technology. TLT provided sensible and clear advice throughout the transaction enabling us to drive forward with our ambitious plans."
Jon Gill, partner at TLT, says: "The Bristol tech market is booming, thanks to our leading universities, support services and exceptional talent. This is matched by continued interest from investors, and we are seeing particular interest in healthcare technology ventures at present. We are delighted to have advised Micrima with this significant funding round to enable the commercialisation of their ground-breaking technology."
TLT won three awards at the South West Dealmakers Awards in 2018: Corporate Law Firm of the Year; Small Deal of the Year and Young Dealmaker of the Year.