29 September 2016
GM&C Life Sciences Fund Invests in SwabTech
Alderley Park, Cheshire, UK – 29 September 2016. Catapult Ventures, managers of the GM&C Life Sciences Fund, today announced an £0.5m investment in Manchester-based SwabTech Limited to further develop and commercialise its automated Surgical Swab-Washer, enhancing blood recovery and reuse during high blood loss surgical procedures.
The investment will enable SwabTech to finalise the product design, secure a CE mark and press on with UK and international product launches. SwabTech's patented Surgical Swab-Washer automates a process currently performed by hand, recovering blood from swabs used in the hospital operating theatre. This blood can then be processed and transfused back into the patient, an established procedure used in a wide range of operations associated with high blood loss, and is known to be a cost-effective means to improve clinical outcomes.
SwabTech was formed by a clinical scientist, a surgeon, and an engineer. With support from TRUSTECH, the North West NHS Innovation Hub, SwabTech was “spun-out” from three North West NHS Foundation Trusts; the University Hospital of South Manchester; Wrightington, Wigan and Leigh and Central Manchester University Hospitals. Their goal has been to commercialise the NIHR funded research led by Co-Founder, Dr Sarah Haynes.
Marcus Orton, CEO of SwabTech, said "I'm delighted to be working with Catapult Ventures to bring SwabTech's Surgical Swab-Washer to market and have been impressed with the input from the Catapult team. This investment is a major step forward and I look forward to growing SwabTech into a leader in enhanced blood recovery.”
Professor Mohideen Jameel, Senior Surgical Consultant, Co-Founder and Medical Director of SwabTech, said "In my career as a vascular surgeon I've seen an obvious need to automate swab washing in the operating theatre - a process that is currently conducted manually, if at all. Automated swab washing is expected to increase blood recovery and return on investment in existing cell salvage systems, saving costs and eliminating many of the hazards related to manual swab washing.”
Gareth King, Life Science Partner at the GM&C Life Sciences Fund, said "We've been particularly impressed by the clear clinical need and simplicity of SwabTech's Surgical Swab-Washer and broad experience of the management team and founders. We are excited to be investing in SwabTech with a talented team and clear drive to bring its Swab-Washer to market to benefit patients, the NHS and other healthcare providers.”
From Left to Right: James Corden (SwabTech Co-Founder and Technical Director), Gareth King (Life Science Partner Catapult Ventures) and Marcus Orton (SwabTech CEO) shake hands over the prototype SwabTech Swab Washer at their offices at Greenheys Centre, Manchester Science Park.