Cardiff spin-out secures £2.1m to develop Ultravision
30 March 2015
A company which began life at Cardiff University has secured £2.1m to drive the further commercialisation of its lead product.
Alesi Surgical developed UltravisionTM, which handles the smoke created during keyhole surgery in the abdomen, and took it from concept to CE-marked device with backing from IP Group and Finance Wales.
The company, formerly Asalus Medical Instruments Limited, was formed in 2009. It was spun out from the Welsh Institute for Minimal Access Therapy, based at Cardiff University.
Ultravision was awarded a CE mark in 2014, and the company has since appointed distributors in 25 countries. The new investment provides capital to drive adoption of Ultravision, which has already been trialled across a spectrum of the most commonly performed laparoscopic procedures in gastrointestinal, gynaecological, urological and colorectal surgery.
Ultravision uses electrostatic precipitation, a proven method of clearing vapour and particulate matter in industrial settings, which had not previously been used in surgical applications. Last year the product was awarded the prestigious Cutler Prize, which is granted by the Royal College of Surgeons for innovations in surgical technology.
"We have developed a simple, hands-free device that is unobtrusive in the operating room and delivers highly effective resolution of the issue of surgical smoke. Surgical teams involved in Ultravision trials were overwhelmingly positive, and the vast majority wanted to carry on using it after the trial ended," said Dr Dominic Griffiths, Managing Director of Alesi Surgical.
Dr Peter Grant, Head of Healthcare at IP Group plc, said: "We have supported Alesi Surgical since inception, both directly and via our co-investment agreement with Fusion IP plc, which is now part of the Group. Over that period, we have been pleased with the progress that Alesi Surgical has made as Ultravision gains momentum and receives the interest and recognition it deserves from the surgical community. This next round of funding will allow the team at Alesi Surgical to further strengthen its sales and marketing activities as it seeks to take the product to market."