Praetura leads £7m round for Inotec

Praetura has invested £2.75m in the round, while existing investor Amadeus Capital Partners, Puhua Capital, Boundary Capital and a group of high-net-worth angel investors contributed the rest.

The firm is currently investing from its EIS 2020 Fund, which closed on £7m in February 2020. The investment is the third life sciences business in Praetura's portfolio, following investments in Ostara Biomedical and Liverpool ChiroChem. Andy Round, director at Praetura, will join Inotec's board.

The company plans to expand in the US, Asia, the Middle East and Europe.

Previous funding
In 2007, Cambridge Capital Group along with Cambridge Enterprise Seed Fund provided growth financing to the company of £500,000.

Amadeus led a series-A funding round for the company in 2016.

Company
Founded in 2003, Inotec developed Natrox, a product that uses pure humidified oxygen to treat a range of chronic wounds, from diabetic and venous ulcers to non-healing surgical wounds. Headquartered in Cambridge, the company also has a US office in North Carolina. The business currently provides products to the NHS and health providers in key markets including the US, Italy, south-east Asia and the Middle East.

People
Inotec AMD – Craig Kennedy (CEO).

Advisers
Equity – Hill Dickinson, Matt Noon, Katy Oakes (legal).
Company – Osborne Clarke (legal).

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• Topics
• Expansion
• UK / Ireland
• Healthcare
• United Kingdom
• healthcare
• Amadeus Capital