Cardiff-based MedTech Ceryx Medical has closed a fresh £5m funding round, bringing the company’s total raised to £11m.
The company, which is developing next-generation therapies for heart failure, raised the funds from leading investors including the Development Bank of Wales, Parkwalk Advisors and BGF.
The new investment will be used to accelerate the development of the firm’s second product – a permanent, physiologically responsive pacemaker designed to provide long-term support for patients with chronic heart failure.
Its lead product, a temporary cardiac pacing device, is currently undergoing clinical evaluation, with early results showing the potential to significantly enhance patient recovery following cardiac surgery.
“This investment is a strong endorsement of our team, technology, and vision,” said Stuart Plant, CEO of Ceryx Medical.
“The early clinical data from our temporary device has given us real momentum, and with this funding, we’re excited to advance our permanent pacing platform, an innovation that could redefine how heart failure is treated.”
Spun out of research from the Universities of Bristol, Bath, and Auckland, the business is currently working closely with academic and clinical partners.
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