Seroba et al. invest £18m in Veryan

Existing backer Imperial invested £8.4m in the round and increased its stake in the company to 47.8%.

Veryan will use the fresh funding to bolster its workforce, with the plan of launching its product internationally later this year.

Previous funding
Veryan first received funding in January 2005, securing £2.6m from Imperial, Nikko Principal Investments, Oxford Capital Partners (OCP), NPI Ventures and Nesta.

In May 2007, OCP and Imperial co-led a £3.1m round for Veryan, which saw Nesta also participate.

In March 2010, Seroba joined the pool of investors as part of a £3.6m funding round, leading the round alongside Nesta. Imperial and OCP participated.

Imperial and Seroba then injected a further £5m into the company in October 2011.

Company
Founded in 2003 and headquartered in Horsham in West Sussex, Veryan is a biotechnology company specialising in vascular disease.

The company has developed BioMimics 3D, a 3D nitinol stent product. From that technology, the company has created a self-expanding nitinol stent that is designed to treat patients with peripheral arterial disease.

People
Chas Taylor is the CEO of Veryan. Imperial operation partner Simon Cartmell has become chairman of the company's board, which includes Seroba partner Alan O'Connell and Imperial chief investment officer Nigel Pitchford.

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