International legal practice Osborne Clarke has advised Creo Medical Group, a medical device company focused on the emerging field of surgical endoscopy, quoted on the AIM market of the London Stock Exchange, on a successful fundraising to raise £52m by way of a placing and open offer.
Creo intends to use the net proceeds from the fundraising for working capital to provide a strong balance sheet to continue its commercialisation of the CROMA Advanced Energy Platform and associated devices, as well as to provide funds for:
- US commercialisation expansion including potential M&A;
- Development of IP portfolio in areas such as plasma sterilisation, neurology and additional energy modalities within the CROMA Advanced Energy Platform;
- Continued development of CROMA technology;
- Clinical trials for Chinese and Japanese markets; and
- Continued research and development of new devices.
The Osborne Clarke team that advised on the transaction was led by Corporate Partner Mark Wesker and Senior Associate Ashley Morris. Mark also led the Osborne Clarke team which advised Creo on its £48.5m fundraising in 2018.
Osborne Clarke’s Corporate team is considered the go-to practice for many businesses in the life sciences and healthcare sector. The team advises at every stage of company development across all corporate areas, from equity and debt fundraising to M&A, IPOs and JVs.
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