DWF, the global legal business, has advised Accel-Heal Technologies Limited, a MedTech business founded to continue the development of an innovative product.
The device aims to relieve pain and stimulates healing in hard to heal wounds using electrical stimulation, on a £3 million equity fundraise.
The equity funding, drawn from a pool of global investors, will be used to fund the company’s growth plans as it looks to establish Accel-Heal as a credible technology in the frontline clinical treatment of painful and non-healing wounds.
The transaction was led by Jemil Visram, a senior associate in DWF’s corporate practice, together with James Cashman, a partner in DWF’s corporate tax practice and Ashley Jacques, a senior associate in DWF’s business restructuring practice.
Commenting on the deal, Visram said: “It was a pleasure to work with the executive team at Accel-Heal Technologies to get this deal over the line and it is a testament to their innovative wound-care technology that they were able to close a multi-million pound investment in such challenging market conditions.”
Adding: “We look forward to seeing Accel-Heal Technologies utilise these funds for the benefit of those suffering with these dreadful wounds and are proud to have played a part in the formation of this business.”
Andrew Wildman of Accel-Heal Technologies, commented: “We have a great team experienced in advanced wound care and an exciting technology which has the potential to revolutionise wound care and these funds enable us to put a well devised plan into action.”
“We would like to thank Jemil and the team at DWF for their assistance in converting some structuring concepts into the strong foundations we now have for the business and for their timely, efficient and commercial advice on this transaction.”