Development finance
The quoted university technology commercialisation company Fusion IP plc has co-invested £75,000 in MedaPhor , a spin-out company from Cardiff University, UK. At the same time the public fund Finance Wales co-invested £75,000 also.
MedaPhor also received a £100,000 grant from SMART Wales, the Welsh Assembly Government’s Award scheme.
The company is developing a portable ultrasound simulator that enables physicians to be trained in the use of ultrasound to take place without needing access to actual machines or patients.
The investment will be used to further develop the simulator for commercial launch into the UK and US markets in 2009. Fusion IP now owns 35.2 per cent of MedaPhor.
David Baynes, CEO of Fusion IP, said, “MedaPhor is attracting significant recognition for its portable ultrasound simulator for physician training and is a good example of the innovative technologies that are originating from Cardiff University.”
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