Caretek Medical Ltd (Caretek), which is developing the novel, needle-free, ImplaJect® drug delivery technology, is delighted to announce closing a funding round of £530,000 to further develop and commercialise its technology. The funding round was significantly oversubscribed and the Directors have scaled back allocations accordingly.
At the same time Caretek has moved to strengthen both the management team and the Board of Directors with the following key appointments:-
Mr. Mark Kirby (48) joins the Board as Chairman. Mark’s most recent role was Chief Executive and Chairman of Profile Therapeutics plc, a drug delivery company which he built up following a management buyout. Profile was subsequently floated on the London Stock Exchange. In July 2004 Profile was acquired under a recommended offer by Respironics Inc. Mark is also a Director of Achyra Technologies Ltd.
Professor Russell Smith (47) joins Caretek as a Non-Executive Director. Russell is Chief Executive of Business Boffins, a business dedicated to assisting start-up companies. Russell has 15 years of previous experience in the pharmaceutical industry in senior management positions.
Mr. Simon Jones (39) has been appointed as Finance and Operations Director. Simon’s most recent experience was with Oxonica, a University of Oxford spin-out, where he was Chief Financial Officer. Simon is a Chartered Accountant having qualified with Ernst and Young.
Dr. Shohre Nabahi (50) joins as Pharmaceutical Development Director. Shohre, a qualified pharmacist, has more than 20 years of pharmaceutical product development and regulatory experience. Prior to joining Caretek she held regulatory, management and development positions at the MRHA, PowderJect Pharmaceuticals, Hochest Marion Roussel and Revlon Healthcare. Her most recent position was Operations Director with Phaeton Research.
Commenting on closing the funding round and the new team appointments Dr Charles Potter, Founder and Chief Executive, commented “We are delighted to have closed the funding round and to have seen such demand for shares in Caretek Medical. It is also pleasing to have follow-on investment from our existing investor, Oxford Technology 3 VCT. I am very pleased to have strengthened the team and to have the resources to press on with the development of the ImplaJect® technology. The list of potential partners interested in our technology continues to grow and we see near term potential to generate a strong market and financial position from our patented technology”.
