Scottish Investment Bank

The Scottish Investment Bank is a public body supporting economic growth in Scotland. It facilitates finance for small to medium-sized businesses, focusing on sectors such as renewable energy, technology, life sciences, and creative industries. The bank works closely with portfolio companies to strengthen management teams and accelerate growth.

Reuben Aitken

Managing Director, International Operations

Rhona Allison

Managing Director, Business Growth

Susan Armes

Senior Investment Manager

Victoria Carmichael

Commercial Director

Steve Dunlop

Chief Executive

Adrian Gillespie

Chief Executive and Board Member

Mark Hallan

Global Director, Strategic Relationships

Linda Hanna

Managing Director

Jane Martin

Managing Director of Innovation and Investment

Jim McFarlane

Managing Director of Operations

Kerry Sharp

Director of Entrepreneurship and Investment

Charlie Smith

Managing Director of Scottish Development International and Group Head of Strategy and Technology

Past deals in Medical Devices

Mask Logic

Grant in 2025
Mask Logic is a manufacturer specializing in personalized protective face masks designed for comfort and safety. Their products aim to enhance workplace health and safety by providing respiratory protection against airborne hazards.

Airglove Medical

Seed Round in 2025
Airglove Medical specializes in manufacturing and distributing innovative medical devices. Their flagship product, the Airglove, is a skin warming device that uses LED technology and magnification to enhance vein visibility, facilitating easier and more accurate venipuncture procedures. The device is designed to integrate seamlessly with existing healthcare systems, offering a USB-powered, multi-voltage option for use in various clinical settings, including the NHS.

Biotangents

Venture Round in 2024
Biotangents Ltd. is a biotechnology company based in Glasgow, United Kingdom, specializing in the design and construction of biological pathways to produce desirable natural materials. Founded in 2015, Biotangents utilizes its proprietary Leapfrog Assembly platform to create complex genetic constructs from multiple DNA components. The company has developed notable technologies such as Short Sequence Randomisation and Moduleic Sensing, the latter of which focuses on modular cell-free nucleic acid detection. Biotangents is also engaged in creating a veterinary diagnostic device aimed at detecting various infectious diseases in livestock. This device utilizes isothermal amplification technology, allowing for precise molecular detection without extensive technical requirements, and can be swiftly adapted to target new pathogens. Through its innovations, Biotangents strives to mitigate the impact of infectious diseases in livestock, enabling more efficient production of animal protein.

Cytomos

Venture Round in 2024
Cytomos Limited, established in 2011 and based in Edinburgh, United Kingdom, specializes in developing advanced cell sorting devices for laboratory research and clinical diagnostics. The company is known for its patented Dielectric Spectroscopy (CDS) technology, which enables label-free cell analysis with single-cell resolution. This innovative approach provides comprehensive insights into bioprocesses, facilitating automated and quantitative assessments crucial for biomedical research. Cytomos' systems are designed to support biopharma and cell therapy applications by offering deep data analysis per cell, thereby enhancing phenotypic drug discovery and stem cell therapy. By leveraging machine learning algorithms, Cytomos provides researchers with the tools necessary to optimize cell-based diagnostics and ensure accurate dosing in therapeutic contexts.

Neuranics

Grant in 2024
Neuranics develops magnetic sensing technology for integration into health, fitness, and metaverse applications. Its proprietary spintronics sensors, powered by semiconductors, detect tiny magnetic impulses from the body, aiming to improve health monitoring equipment and human-machine interfaces.

Invizius

Venture Round in 2024
Invizius is a medical technology company focused on improving outcomes in extracorporeal blood treatments. It develops H-Guard, a hemocompatible coating designed to prevent foreign body reactions in the blood at the point of contact with medical devices used in dialysis, cardiopulmonary bypass, and extracorporeal membrane oxygenation. By reducing inflammatory and thrombotic complications associated with long-term dialysis and other extracorporeal circuits, Invizius aims to lower cardiovascular risk and improve patient safety during kidney replacement therapies and related procedures. Based in Edinburgh, United Kingdom, the company was established in 2018 and pursues additional applications in inflammatory and kidney-related conditions through its technology platform.

Metacarpal

Seed Round in 2024
Metacarpal develops body-powered bionic hand prostheses, including a fully mechanical design with variable grips and grip lock to secure holds. The technology provides intuitive control similar to traditional body-powered devices and offers multiple grip options to adapt to different objects, with a focus on expanding access to prosthetic solutions in developing regions.

Chromacity

Seed Round in 2024
Chromacity Ltd., founded in 2013, specializes in developing, manufacturing, and distributing wavelength tunable femtosecond lasers. Its products cater to life-sciences, spectroscopy, and engineering applications, serving customers globally. The company offers a range of lasers including Spark series for near-infrared wavelengths, Spark-OPO for tunable mid-infrared pulses, and custom OEM solutions optimized for specific applications.

Mirna

Series A in 2024
Mirna is a veterinary diagnostics company that specializes in the development of veterinary disease testing technology.

Nami Surgical

Seed Round in 2024
Nami Surgical specializes in developing and providing advanced robotic surgery technology. Their core offering is ultrasonic surgical tools designed to enhance the current robotic-assisted surgery market. By simplifying and making procedures safer, they expand the use of robots in surgeries requiring ultrasonic devices, thereby improving clinical outcomes and patient care. Their solutions provide surgeons with intuitive, high-performance, and maneuverable instruments for complex surgical tasks.

Nebu-Flow

Venture Round in 2024
Nebu-Flow is a manufacturer focused on the development of advanced inhaled drugs aimed at patients with respiratory disorders. The company specializes in innovative pulmonary drug-delivery technology that allows for efficient administration of difficult-to-nebulize medications directly to the lungs. This includes existing formulations as well as emerging therapeutics such as biologics, nanomedicines, and vaccines. Nebu-Flow's technology is designed to control droplet size for optimal deep lung deposition, facilitating injection-free systemic drug delivery through inhalation. The company is dedicated to minimizing its environmental impact while ensuring the creation of a user-friendly and high-performing nebulizer for effective treatment of respiratory diseases.

Medical Device Manufacturing Centre

Grant in 2023
Medical Device Manufacturing Centre provides medical device developers and manufacturers with the advice, technical expertise, and facilities essential for companies that are seeking to translate medical device concepts into commercial products.

Microplate Dx

Seed Round in 2023
Microplate Dx develops innovative diagnostic technology aimed at reducing fatalities caused by drug-resistant infections. The company, spun out from the University of Strathclyde in Glasgow, focuses on creating point-of-care solutions that accurately detect specific infections and enable optimal antibiotic prescribing within an hour.

Bio-Images Drug Delivery

Venture Round in 2023
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

Cytomos

Series A in 2023
Cytomos Limited, established in 2011 and based in Edinburgh, United Kingdom, specializes in developing advanced cell sorting devices for laboratory research and clinical diagnostics. The company is known for its patented Dielectric Spectroscopy (CDS) technology, which enables label-free cell analysis with single-cell resolution. This innovative approach provides comprehensive insights into bioprocesses, facilitating automated and quantitative assessments crucial for biomedical research. Cytomos' systems are designed to support biopharma and cell therapy applications by offering deep data analysis per cell, thereby enhancing phenotypic drug discovery and stem cell therapy. By leveraging machine learning algorithms, Cytomos provides researchers with the tools necessary to optimize cell-based diagnostics and ensure accurate dosing in therapeutic contexts.

Manus Neurodynamica

Venture Round in 2023
Founded in 2008, Manus Neurodynamica specializes in medical diagnostic technologies for neuromotor impairments. Its primary product is a non-invasive device designed to support early diagnostics and monitoring of Parkinson's disease, with applications in academic research, pharmaceutical studies, and non-medical uses.

IbisVision

Venture Round in 2023
IbisVision Limited is a company that specializes in developing visual field test software aimed at the early detection of glaucoma, a leading cause of blindness. Its flagship product, Ring of Sight, utilizes patented technology to offer a unique eye testing experience through a cloud-based application that can be accessed remotely from various locations. The software consolidates multiple eye tests into one device, allowing healthcare professionals to conduct both in-practice and no-contact testing. This innovative approach not only enhances patient care but also supports optometrists in maximizing operational efficiency. Founded in 2013 and located in Livingston, United Kingdom, IbisVision is committed to improving eye care by providing a reliable and secure platform for diagnosing and monitoring glaucoma. The application ensures data privacy through secure encrypted servers, underscoring the company's dedication to maintaining high standards of patient confidentiality and security.

Dxcover

Series A in 2023
Dxcover is a clinical-stage liquid biopsy company based in Glasgow, established in 2016 by David S Palmer, Holly Butler, and Matthew Baker. The firm specializes in developing advanced diagnostics for the early detection of various cancers, focusing on Stage I and Stage II malignancies where timely intervention can significantly improve patient outcomes. Utilizing a combination of infrared spectroscopy and artificial intelligence, Dxcover's technology enables the detection of cancer from a simple blood sample, allowing for same-day diagnosis and patient stratification. This innovative approach aims to enhance treatment options and ultimately improve survival rates and quality of life for patients.

Waire Health

Venture Round in 2023
Waire Health specializes in wearable vital sign monitoring devices. Its AI-driven technology identifies high-risk patients in hospitals or at home, aiming to prevent life-threatening conditions like sepsis, reduce readmissions, and enhance care outcomes.

Hearing Diagnostics Limited

Seed Round in 2022
Hearing Diagnostics Limited develops and manufactures hearing screening and diagnostic technologies. Its Audimetroid product uses a head motion sensor for localization-based screening, enabling objective screening and diagnosis of hearing loss for nurses, audiologists, otolaryngologists and trained technicians in clinical and community settings. Founded in 2017 and based in Edinburgh, United Kingdom, the company pursues health-tech solutions that support earlier management of hearing loss. Its technology employs a spatial paradigm with headphones and inertial sensors to deliver accessible, cost-efficient screening outside traditional clinics where appropriate.

CardioPrecision

Venture Round in 2022
CardioPrecision Ltd is a medical equipment company based in Glasgow, United Kingdom, established in 2007. The company specializes in developing innovative devices for invasive cardiovascular surgery, focusing on minimally invasive procedures. CardioPrecision has created a patented technology that allows medical professionals to perform operations with minimal neck access, significantly reducing the invasiveness of procedures. One of its key devices is a specialized retractor designed to illuminate various areas of the operative field in alignment with the steps of cardiothoracic surgeries. This device enables surgeons to conduct endoscopic vessel harvesting and perform aortic valve replacements through small incisions, allowing for greater precision and control while maintaining a comfortable and natural posture during operations.

Bioliberty

Grant in 2022
Bioliberty is a medtech startup developing rehabilitation solutions and robotic gloves enabled by artificial intelligence to aid muscle recovery for degenerative and traumatic conditions. The company focuses on assistive robotics and rehabilitative devices to help patients with stroke, motor neuron disease, multiple sclerosis, rheumatoid arthritis, and osteoarthritis improve hand strength for daily tasks and live independently at home.

Cytomos

Seed Round in 2022
Cytomos Limited, established in 2011 and based in Edinburgh, United Kingdom, specializes in developing advanced cell sorting devices for laboratory research and clinical diagnostics. The company is known for its patented Dielectric Spectroscopy (CDS) technology, which enables label-free cell analysis with single-cell resolution. This innovative approach provides comprehensive insights into bioprocesses, facilitating automated and quantitative assessments crucial for biomedical research. Cytomos' systems are designed to support biopharma and cell therapy applications by offering deep data analysis per cell, thereby enhancing phenotypic drug discovery and stem cell therapy. By leveraging machine learning algorithms, Cytomos provides researchers with the tools necessary to optimize cell-based diagnostics and ensure accurate dosing in therapeutic contexts.

Biotangents

Venture Round in 2022
Biotangents Ltd. is a biotechnology company based in Glasgow, United Kingdom, specializing in the design and construction of biological pathways to produce desirable natural materials. Founded in 2015, Biotangents utilizes its proprietary Leapfrog Assembly platform to create complex genetic constructs from multiple DNA components. The company has developed notable technologies such as Short Sequence Randomisation and Moduleic Sensing, the latter of which focuses on modular cell-free nucleic acid detection. Biotangents is also engaged in creating a veterinary diagnostic device aimed at detecting various infectious diseases in livestock. This device utilizes isothermal amplification technology, allowing for precise molecular detection without extensive technical requirements, and can be swiftly adapted to target new pathogens. Through its innovations, Biotangents strives to mitigate the impact of infectious diseases in livestock, enabling more efficient production of animal protein.

epipole

Venture Round in 2022
Epipole Ltd. is a UK-based company founded in 2011, specializing in the design and manufacture of advanced retinal imaging devices. The company is best known for its EpiCam product line, which includes several models tailored for different applications. The epiCam M is a handheld digital retinal fundus camera that allows real-time exploration of retinal vasculature, while the epiCam C provides enhanced color imaging beyond traditional desktop cameras. The epiCam V is specifically designed for veterinary use, offering high-quality fundus imaging for animals. Additionally, Epipole produces the Model Eye, an optical replica of the human eye used for training medical students in the use of ophthalmoscopes and fundus cameras. By focusing on image processing and medical imaging technologies, Epipole is disrupting the ophthalmic device space, facilitating early diagnosis and monitoring of retinal diseases such as diabetic retinopathy. The company distributes its products through various channels, including partnerships with distributors and online sales.

Chromacity

Venture Round in 2021
Chromacity Ltd., founded in 2013, specializes in developing, manufacturing, and distributing wavelength tunable femtosecond lasers. Its products cater to life-sciences, spectroscopy, and engineering applications, serving customers globally. The company offers a range of lasers including Spark series for near-infrared wavelengths, Spark-OPO for tunable mid-infrared pulses, and custom OEM solutions optimized for specific applications.

Invizius

Series A in 2021
Invizius is a medical technology company focused on improving outcomes in extracorporeal blood treatments. It develops H-Guard, a hemocompatible coating designed to prevent foreign body reactions in the blood at the point of contact with medical devices used in dialysis, cardiopulmonary bypass, and extracorporeal membrane oxygenation. By reducing inflammatory and thrombotic complications associated with long-term dialysis and other extracorporeal circuits, Invizius aims to lower cardiovascular risk and improve patient safety during kidney replacement therapies and related procedures. Based in Edinburgh, United Kingdom, the company was established in 2018 and pursues additional applications in inflammatory and kidney-related conditions through its technology platform.

Bio-Images Drug Delivery

Venture Round in 2020
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

Dxcover

Seed Round in 2020
Dxcover is a clinical-stage liquid biopsy company based in Glasgow, established in 2016 by David S Palmer, Holly Butler, and Matthew Baker. The firm specializes in developing advanced diagnostics for the early detection of various cancers, focusing on Stage I and Stage II malignancies where timely intervention can significantly improve patient outcomes. Utilizing a combination of infrared spectroscopy and artificial intelligence, Dxcover's technology enables the detection of cancer from a simple blood sample, allowing for same-day diagnosis and patient stratification. This innovative approach aims to enhance treatment options and ultimately improve survival rates and quality of life for patients.

Asklepios BioPharmaceutical

Grant in 2020
Asklepios BioPharmaceutical is a biotechnology company focused on developing adeno-associated virus (AAV) gene therapies for genetic disorders and other rare diseases. It employs proprietary AAV technology and a manufacturing platform to advance a diverse pipeline that includes in-house clinical programs in Pompe disease and congestive heart failure, as well as preclinical programs spanning neuromuscular and central nervous system conditions. The company also collaborates and out-licenses clinical indications such as hemophilia and Duchenne muscular dystrophy, supported by capabilities in scalable cell-line manufacturing and an extensive AAV capsid and promoter library. Founded in 2001 and based in Research Triangle Park, North Carolina, the company seeks to advance genetic medicines through collaborations, new delivery methods, and ongoing pipeline expansion.

epipole

Venture Round in 2020
Epipole Ltd. is a UK-based company founded in 2011, specializing in the design and manufacture of advanced retinal imaging devices. The company is best known for its EpiCam product line, which includes several models tailored for different applications. The epiCam M is a handheld digital retinal fundus camera that allows real-time exploration of retinal vasculature, while the epiCam C provides enhanced color imaging beyond traditional desktop cameras. The epiCam V is specifically designed for veterinary use, offering high-quality fundus imaging for animals. Additionally, Epipole produces the Model Eye, an optical replica of the human eye used for training medical students in the use of ophthalmoscopes and fundus cameras. By focusing on image processing and medical imaging technologies, Epipole is disrupting the ophthalmic device space, facilitating early diagnosis and monitoring of retinal diseases such as diabetic retinopathy. The company distributes its products through various channels, including partnerships with distributors and online sales.

Manus Neurodynamica

Venture Round in 2020
Founded in 2008, Manus Neurodynamica specializes in medical diagnostic technologies for neuromotor impairments. Its primary product is a non-invasive device designed to support early diagnostics and monitoring of Parkinson's disease, with applications in academic research, pharmaceutical studies, and non-medical uses.

Adaptix

Venture Round in 2019
Adaptix Limited, established in 2009 and headquartered in Oxford, UK, specializes in designing and manufacturing innovative 3D radiology imaging equipment for X-ray applications. The company's core product is a miniaturized, flat panel X-ray source that can be integrated into existing product lines, enabling manufacturers to offer low-dose 3D imaging capabilities at a more affordable price point and with enhanced portability. Adaptix's solutions are used in various medical fields, including bedside chest imaging, extremity imaging, dental imaging, and breast imaging, with the potential to improve diagnostic accuracy for conditions like cardiovascular and pulmonary diseases, lung cancer, and osteoporosis. The company's technology, based on a pixelated array made in a semiconductor foundry, is protected by patents and leverages existing technologies from various industries. Adaptix's products are components intended for integration by X-ray systems manufacturers, who are responsible for product qualification, validation, and regulatory compliance.

Invizius

Series A in 2019
Invizius is a medical technology company focused on improving outcomes in extracorporeal blood treatments. It develops H-Guard, a hemocompatible coating designed to prevent foreign body reactions in the blood at the point of contact with medical devices used in dialysis, cardiopulmonary bypass, and extracorporeal membrane oxygenation. By reducing inflammatory and thrombotic complications associated with long-term dialysis and other extracorporeal circuits, Invizius aims to lower cardiovascular risk and improve patient safety during kidney replacement therapies and related procedures. Based in Edinburgh, United Kingdom, the company was established in 2018 and pursues additional applications in inflammatory and kidney-related conditions through its technology platform.

M Squared Lasers

Grant in 2019
M Squared Lasers designs and manufactures lasers and photonic instruments for industrial and scientific applications, drawing on more than twenty years of experience and a track record of award winning products to deliver reliable, easy to use solutions that help solve problems and accelerate projects. The company focuses on photonics and quantum technology to harness the power of light, offering advanced tools and optical instruments for sectors such as manufacturing, oil and gas research, space technology and medicine. Through cross sector partnerships, M Squared Lasers supports breakthroughs in dementia research, cancer diagnosis and whiskey maturation.

Biotangents

Series A in 2019
Biotangents Ltd. is a biotechnology company based in Glasgow, United Kingdom, specializing in the design and construction of biological pathways to produce desirable natural materials. Founded in 2015, Biotangents utilizes its proprietary Leapfrog Assembly platform to create complex genetic constructs from multiple DNA components. The company has developed notable technologies such as Short Sequence Randomisation and Moduleic Sensing, the latter of which focuses on modular cell-free nucleic acid detection. Biotangents is also engaged in creating a veterinary diagnostic device aimed at detecting various infectious diseases in livestock. This device utilizes isothermal amplification technology, allowing for precise molecular detection without extensive technical requirements, and can be swiftly adapted to target new pathogens. Through its innovations, Biotangents strives to mitigate the impact of infectious diseases in livestock, enabling more efficient production of animal protein.

Dxcover

Seed Round in 2019
Dxcover is a clinical-stage liquid biopsy company based in Glasgow, established in 2016 by David S Palmer, Holly Butler, and Matthew Baker. The firm specializes in developing advanced diagnostics for the early detection of various cancers, focusing on Stage I and Stage II malignancies where timely intervention can significantly improve patient outcomes. Utilizing a combination of infrared spectroscopy and artificial intelligence, Dxcover's technology enables the detection of cancer from a simple blood sample, allowing for same-day diagnosis and patient stratification. This innovative approach aims to enhance treatment options and ultimately improve survival rates and quality of life for patients.

Adaptix

Venture Round in 2019
Adaptix Limited, established in 2009 and headquartered in Oxford, UK, specializes in designing and manufacturing innovative 3D radiology imaging equipment for X-ray applications. The company's core product is a miniaturized, flat panel X-ray source that can be integrated into existing product lines, enabling manufacturers to offer low-dose 3D imaging capabilities at a more affordable price point and with enhanced portability. Adaptix's solutions are used in various medical fields, including bedside chest imaging, extremity imaging, dental imaging, and breast imaging, with the potential to improve diagnostic accuracy for conditions like cardiovascular and pulmonary diseases, lung cancer, and osteoporosis. The company's technology, based on a pixelated array made in a semiconductor foundry, is protected by patents and leverages existing technologies from various industries. Adaptix's products are components intended for integration by X-ray systems manufacturers, who are responsible for product qualification, validation, and regulatory compliance.

Chromacity

Seed Round in 2018
Chromacity Ltd., founded in 2013, specializes in developing, manufacturing, and distributing wavelength tunable femtosecond lasers. Its products cater to life-sciences, spectroscopy, and engineering applications, serving customers globally. The company offers a range of lasers including Spark series for near-infrared wavelengths, Spark-OPO for tunable mid-infrared pulses, and custom OEM solutions optimized for specific applications.

Biotangents

Seed Round in 2018
Biotangents Ltd. is a biotechnology company based in Glasgow, United Kingdom, specializing in the design and construction of biological pathways to produce desirable natural materials. Founded in 2015, Biotangents utilizes its proprietary Leapfrog Assembly platform to create complex genetic constructs from multiple DNA components. The company has developed notable technologies such as Short Sequence Randomisation and Moduleic Sensing, the latter of which focuses on modular cell-free nucleic acid detection. Biotangents is also engaged in creating a veterinary diagnostic device aimed at detecting various infectious diseases in livestock. This device utilizes isothermal amplification technology, allowing for precise molecular detection without extensive technical requirements, and can be swiftly adapted to target new pathogens. Through its innovations, Biotangents strives to mitigate the impact of infectious diseases in livestock, enabling more efficient production of animal protein.

Bio-Images Drug Delivery

Venture Round in 2018
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

Invizius

Grant in 2018
Invizius is a medical technology company focused on improving outcomes in extracorporeal blood treatments. It develops H-Guard, a hemocompatible coating designed to prevent foreign body reactions in the blood at the point of contact with medical devices used in dialysis, cardiopulmonary bypass, and extracorporeal membrane oxygenation. By reducing inflammatory and thrombotic complications associated with long-term dialysis and other extracorporeal circuits, Invizius aims to lower cardiovascular risk and improve patient safety during kidney replacement therapies and related procedures. Based in Edinburgh, United Kingdom, the company was established in 2018 and pursues additional applications in inflammatory and kidney-related conditions through its technology platform.

Adaptix

Venture Round in 2017
Adaptix Limited, established in 2009 and headquartered in Oxford, UK, specializes in designing and manufacturing innovative 3D radiology imaging equipment for X-ray applications. The company's core product is a miniaturized, flat panel X-ray source that can be integrated into existing product lines, enabling manufacturers to offer low-dose 3D imaging capabilities at a more affordable price point and with enhanced portability. Adaptix's solutions are used in various medical fields, including bedside chest imaging, extremity imaging, dental imaging, and breast imaging, with the potential to improve diagnostic accuracy for conditions like cardiovascular and pulmonary diseases, lung cancer, and osteoporosis. The company's technology, based on a pixelated array made in a semiconductor foundry, is protected by patents and leverages existing technologies from various industries. Adaptix's products are components intended for integration by X-ray systems manufacturers, who are responsible for product qualification, validation, and regulatory compliance.

Lamellar Biomedical

Series C in 2017
Lamellar Biomedical Ltd. is a biotechnology company based in Bellshill, United Kingdom, established in 2006. The company specializes in the development and commercialization of medical devices and pharmaceuticals centered around Lamellasomes, a synthetic substance that imitates the function of extra-alveolar lamellar bodies. Lamellar Biomedical's innovative products target various respiratory diseases, including cystic fibrosis, and conditions such as radiotherapy-induced xerostomia and dry eye disease. The company’s therapeutic platform leverages anti-infective properties to enhance antibiotic efficacy and protect lung tissues, particularly in complex cases like idiopathic pulmonary fibrosis. Additionally, it facilitates the intracellular delivery of genetic material for pulmonary disease treatment, aiming to provide transformative therapies for severe respiratory conditions. Lamellar Biomedical was previously known as Macrocom (964) Limited before adopting its current name in February 2007.

Chromacity

Seed Round in 2017
Chromacity Ltd., founded in 2013, specializes in developing, manufacturing, and distributing wavelength tunable femtosecond lasers. Its products cater to life-sciences, spectroscopy, and engineering applications, serving customers globally. The company offers a range of lasers including Spark series for near-infrared wavelengths, Spark-OPO for tunable mid-infrared pulses, and custom OEM solutions optimized for specific applications.

MOFgen

Seed Round in 2016
MOFgen Ltd is a pioneering company that specializes in the development and commercialization of metal-organic frameworks (MOFs) for medical and therapeutic applications. Originating as a spin-out from the University of St Andrews, MOFgen leverages patented technology developed by renowned porous material scientist Prof. Russell Morris. The company focuses on creating innovative solutions to healthcare challenges by designing and manufacturing MOFs that can be loaded with antibacterial, wound healing, and anti-thrombotic agents. These products are intended for use in coatings on medical devices, aiming to enhance patient care by reducing infection rates and minimizing the need for prolonged hospital stays. Through collaboration with various partners, MOFgen is dedicated to addressing critical issues such as healthcare-associated infections, bacterial resistance, chronic wound healing, and arterial access.

Ateeda

Venture Round in 2016
Ateeda Limited is a company that specializes in the design and manufacturing of testing modules for electronic chip manufacturers. Based in Edinburgh, United Kingdom, it provides electronic design automation tools focused on the analog testing of various components, including analog-to-digital converters, digital-to-analog converters, regulators, references, and drivers. Ateeda's offerings also include built-in self-test solutions for linear circuits and digital testing for analog circuits, catering to industries such as HD audio, precision medical, industrial, and automotive markets. Founded in 2005 and originally known as York Place (No. 359) Limited, the company aims to enhance the efficiency and quality of semiconductor production, helping microchip enterprises reduce costs while meeting the specifications required by leading consumer brands.

Clear Surgical

Venture Round in 2016
Clear Surgical Ltd is a medical device company founded in 2013 and based in Larbert, United Kingdom. The company specializes in the design, manufacture, and sale of innovative surgical devices aimed at enhancing surgical procedures. Its flagship product, The Oplight, utilizes LED technology to illuminate surgical cavities, improving visibility during open cavity surgeries. Additionally, Clear Surgical offers Cannulated Reduction Forceps, which integrate a guidance system to facilitate optimal implant placement in orthopedic procedures. By focusing on advancements in medical technology, Clear Surgical aims to enhance surgical efficiency and improve clinical outcomes for healthcare providers.

Chromacity

Seed Round in 2015
Chromacity Ltd., founded in 2013, specializes in developing, manufacturing, and distributing wavelength tunable femtosecond lasers. Its products cater to life-sciences, spectroscopy, and engineering applications, serving customers globally. The company offers a range of lasers including Spark series for near-infrared wavelengths, Spark-OPO for tunable mid-infrared pulses, and custom OEM solutions optimized for specific applications.

Taragenyx

Venture Round in 2015
Taragenyx Ltd. is an orthopedic biotechnology company based in Glasgow, United Kingdom, that specializes in developing innovative self-healing implant technologies to assist the body in its natural repair processes. Founded in 2010 and originally known as RRG Coatings Ltd., Taragenyx focuses on applications in spine, trauma, extremities, and biologics. The company is engaged in creating therapeutic implants featuring bio-passive, bio-active, and bio-regenerative coatings that incorporate active pharmaceuticals and biologics directly onto the implant surfaces. This technology enables localized release of compounds post-operatively, aiming to accelerate bone growth, enhance healing, and diminish the risks of infection and pain. Taragenyx’s products are designed to address and mitigate limb-threatening surgical complications, ultimately improving patient outcomes in orthopedic and dental procedures.

Clear Surgical

Venture Round in 2015
Clear Surgical Ltd is a medical device company founded in 2013 and based in Larbert, United Kingdom. The company specializes in the design, manufacture, and sale of innovative surgical devices aimed at enhancing surgical procedures. Its flagship product, The Oplight, utilizes LED technology to illuminate surgical cavities, improving visibility during open cavity surgeries. Additionally, Clear Surgical offers Cannulated Reduction Forceps, which integrate a guidance system to facilitate optimal implant placement in orthopedic procedures. By focusing on advancements in medical technology, Clear Surgical aims to enhance surgical efficiency and improve clinical outcomes for healthcare providers.

i2eye Diagnostics

Venture Round in 2015
i2Eye Diagnostics Limited is a company based in Edinburgh, United Kingdom, specializing in innovative ophthalmic medical devices. Founded in 2010 as a spin-out from the University of Edinburgh and the Edinburgh BioQuarter, the company focuses on developing Saccadic Vector Optokinetic Perimetry (SVOP) visual field analyzers. These advanced devices are designed to assess instinctive responses to light and movement, making them particularly valuable in pediatric and neuro-ophthalmology settings. i2Eye's technology enables comprehensive visual field testing for children and the elderly, populations that are often challenging to evaluate using traditional methods. The SVOP products incorporate 3D eye tracking, allowing patients to move their heads, eyes, and bodies freely during testing, which enhances the accuracy and comfort of the examination process.

Sirakoss

Series A in 2014
Sirakoss is a Scotland-based medical device company specializing in the development of synthetic bone graft substitutes. The company focuses on creating innovative solutions for trauma, spine, craniomaxillofacial, and dental applications. Sirakoss utilizes its proprietary MaxSi Graft technology, available in granular and putty forms, to effectively address spinal fusions and bone defects. This technology is designed to aid in the fusion of bones, helping to correct congenital or degenerative conditions, ultimately facilitating faster recovery for patients and promoting a healthier lifestyle.

UWI Technology

Angel Round in 2014
UWI Technology Limited is a developer and manufacturer of innovative labeling solutions headquartered in Edinburgh, United Kingdom. Founded in 2009, the company specializes in smart labels designed to enhance product safety and consumption. One of its key products, UWI Label, serves as an elapsed time indicator, allowing users to monitor how long a container has been opened and when it should no longer be used. These label solutions are applicable across various sectors, including pharmaceuticals, medical devices, aerospace, life sciences, cosmetics, veterinary products, and food and drink. By utilizing embedded chemical technology, UWI Technology aims to minimize the risks associated with using expired or ineffective products, thereby enhancing safety for consumers and businesses alike.

Bedi OralCare

Seed Round in 2014
Bedi OralCare Limited is a manufacturer of specialized dental products aimed at enhancing oral health for young children, individuals with disabilities, and dementia sufferers. Founded in 2013 and based in Edinburgh, United Kingdom, the company focuses on creating accessible solutions for dental care. Its flagship product, Dental Shield, assists health professionals in conducting examinations and routine procedures, while the Bedi Tray enables dental impressions to be taken from preschool children without the need for restraint. Bedi OralCare is committed to improving the quality of life and well-being of its patients by facilitating essential dental activities such as brushing, denture cleaning, and dental checks, ultimately aiming to promote better oral health for all.

Ocutec

Seed Round in 2014
Founded in 2001 by Professor Neil Graham's team from the University of Strathclyde, Ocutec specializes in designing, developing, and marketing polyethylene glycol-based contact lens materials for vision correction and eye-care markets worldwide. Its products include thermoset and thermoplastic polyethylene glycols, offering hydrated lens surfaces that promote tear film stability, ocular health, and wearing comfort.

Bedi OralCare

Seed Round in 2013
Bedi OralCare Limited is a manufacturer of specialized dental products aimed at enhancing oral health for young children, individuals with disabilities, and dementia sufferers. Founded in 2013 and based in Edinburgh, United Kingdom, the company focuses on creating accessible solutions for dental care. Its flagship product, Dental Shield, assists health professionals in conducting examinations and routine procedures, while the Bedi Tray enables dental impressions to be taken from preschool children without the need for restraint. Bedi OralCare is committed to improving the quality of life and well-being of its patients by facilitating essential dental activities such as brushing, denture cleaning, and dental checks, ultimately aiming to promote better oral health for all.

Clear Surgical

Seed Round in 2013
Clear Surgical Ltd is a medical device company founded in 2013 and based in Larbert, United Kingdom. The company specializes in the design, manufacture, and sale of innovative surgical devices aimed at enhancing surgical procedures. Its flagship product, The Oplight, utilizes LED technology to illuminate surgical cavities, improving visibility during open cavity surgeries. Additionally, Clear Surgical offers Cannulated Reduction Forceps, which integrate a guidance system to facilitate optimal implant placement in orthopedic procedures. By focusing on advancements in medical technology, Clear Surgical aims to enhance surgical efficiency and improve clinical outcomes for healthcare providers.

DYSIS Medical

Venture Round in 2013
DYSIS Medical Ltd., established in 2002 and headquartered in Edinburgh, UK, specializes in designing, developing, manufacturing, and marketing non-invasive imaging systems for detecting cancerous and pre-cancerous lesions. Its flagship product is the DYSIS Colposcope, a digital colposcope that measures aceto-whitening reaction and generates an intuitive map for easier diagnosis. The company also offers accessories like disposable/reusable specula, diathermy loops, coagulation balls, and software for data management and DYSISmap development. With sales offices in Tampa (USA), Edinburgh (UK), and Athens (Greece), DYSIS Medical aims to improve healthcare outcomes globally.

Taragenyx

Seed Round in 2013
Taragenyx Ltd. is an orthopedic biotechnology company based in Glasgow, United Kingdom, that specializes in developing innovative self-healing implant technologies to assist the body in its natural repair processes. Founded in 2010 and originally known as RRG Coatings Ltd., Taragenyx focuses on applications in spine, trauma, extremities, and biologics. The company is engaged in creating therapeutic implants featuring bio-passive, bio-active, and bio-regenerative coatings that incorporate active pharmaceuticals and biologics directly onto the implant surfaces. This technology enables localized release of compounds post-operatively, aiming to accelerate bone growth, enhance healing, and diminish the risks of infection and pain. Taragenyx’s products are designed to address and mitigate limb-threatening surgical complications, ultimately improving patient outcomes in orthopedic and dental procedures.

Lamellar Biomedical

Series A in 2013
Lamellar Biomedical Ltd. is a biotechnology company based in Bellshill, United Kingdom, established in 2006. The company specializes in the development and commercialization of medical devices and pharmaceuticals centered around Lamellasomes, a synthetic substance that imitates the function of extra-alveolar lamellar bodies. Lamellar Biomedical's innovative products target various respiratory diseases, including cystic fibrosis, and conditions such as radiotherapy-induced xerostomia and dry eye disease. The company’s therapeutic platform leverages anti-infective properties to enhance antibiotic efficacy and protect lung tissues, particularly in complex cases like idiopathic pulmonary fibrosis. Additionally, it facilitates the intracellular delivery of genetic material for pulmonary disease treatment, aiming to provide transformative therapies for severe respiratory conditions. Lamellar Biomedical was previously known as Macrocom (964) Limited before adopting its current name in February 2007.

UWI Technology

Venture Round in 2012
UWI Technology Limited is a developer and manufacturer of innovative labeling solutions headquartered in Edinburgh, United Kingdom. Founded in 2009, the company specializes in smart labels designed to enhance product safety and consumption. One of its key products, UWI Label, serves as an elapsed time indicator, allowing users to monitor how long a container has been opened and when it should no longer be used. These label solutions are applicable across various sectors, including pharmaceuticals, medical devices, aerospace, life sciences, cosmetics, veterinary products, and food and drink. By utilizing embedded chemical technology, UWI Technology aims to minimize the risks associated with using expired or ineffective products, thereby enhancing safety for consumers and businesses alike.

mLED

Venture Round in 2012
mLED Limited is a developer and manufacturer of gallium nitride micropixellated light-emitting diode (LED) array systems, headquartered in Glasgow, United Kingdom. The company specializes in micro-LED technology, providing system integrators with the tools necessary to create both prototype and production units for various sectors, including industrial, medical, and commercial applications. mLED's technology supports customized light patterns based on pixel layout and addressing, as well as tailored wavelengths, offering solutions that can deliver continuous pulsed or modulated light patterns.

Touch Bionics

Venture Round in 2011
Touch Bionics Limited, established in 2003 and headquartered in Livingston, United Kingdom, specializes in developing and distributing advanced upper-limb prosthetics for individuals with upper limb deficiencies. The company's product portfolio includes the i-LIMB Hand, a multi-articulating bionic hand; Prosthetic Digits, self-contained fingers for partial hand patients; and ProDigits, a bionic finger solution for those missing fingers. Touch Bionics serves customers in various regions worldwide, including North America, Europe, Asia, Australia, and South Africa. As of April 2016, the company operates as a subsidiary of Össur hf.

mLED

Seed Round in 2010
mLED Limited is a developer and manufacturer of gallium nitride micropixellated light-emitting diode (LED) array systems, headquartered in Glasgow, United Kingdom. The company specializes in micro-LED technology, providing system integrators with the tools necessary to create both prototype and production units for various sectors, including industrial, medical, and commercial applications. mLED's technology supports customized light patterns based on pixel layout and addressing, as well as tailored wavelengths, offering solutions that can deliver continuous pulsed or modulated light patterns.

Ateeda

Venture Round in 2010
Ateeda Limited is a company that specializes in the design and manufacturing of testing modules for electronic chip manufacturers. Based in Edinburgh, United Kingdom, it provides electronic design automation tools focused on the analog testing of various components, including analog-to-digital converters, digital-to-analog converters, regulators, references, and drivers. Ateeda's offerings also include built-in self-test solutions for linear circuits and digital testing for analog circuits, catering to industries such as HD audio, precision medical, industrial, and automotive markets. Founded in 2005 and originally known as York Place (No. 359) Limited, the company aims to enhance the efficiency and quality of semiconductor production, helping microchip enterprises reduce costs while meeting the specifications required by leading consumer brands.

Ocutec

Seed Round in 2010
Founded in 2001 by Professor Neil Graham's team from the University of Strathclyde, Ocutec specializes in designing, developing, and marketing polyethylene glycol-based contact lens materials for vision correction and eye-care markets worldwide. Its products include thermoset and thermoplastic polyethylene glycols, offering hydrated lens surfaces that promote tear film stability, ocular health, and wearing comfort.

Syntropharma

Venture Round in 2009
Syntropharma Limited is an emerging pharmaceutical company based in Melrose, United Kingdom, founded in 2005. The company specializes in the development and distribution of pharmaceutical products, particularly focusing on skin patches that deliver proven medicines for various diseases, including neurological disorders such as Alzheimer's disease and depression. By reformulating commercially successful generic compounds into transdermal applications, Syntropharma aims to enhance their clinical profiles. The company is committed to creating a pipeline of innovative transdermal products protected by strong intellectual property, which it plans to out-license to pharmaceutical partners for broader market reach.

Tayside Flow Technologies

Venture Round in 2009
Tayside Flow Technologies is a medical devices company, engages in the research, development, and commercialization of vascular devices based on an understanding of blood flow dynamics. It develops Spiral Laminar Flow technology to help restore the body’s natural method of transporting blood in situations where own vessels need to be replaced by prosthetic vascular grafts to repair diseased veins and arteries.

Ocutec

Seed Round in 2008
Founded in 2001 by Professor Neil Graham's team from the University of Strathclyde, Ocutec specializes in designing, developing, and marketing polyethylene glycol-based contact lens materials for vision correction and eye-care markets worldwide. Its products include thermoset and thermoplastic polyethylene glycols, offering hydrated lens surfaces that promote tear film stability, ocular health, and wearing comfort.

Ateeda

Venture Round in 2008
Ateeda Limited is a company that specializes in the design and manufacturing of testing modules for electronic chip manufacturers. Based in Edinburgh, United Kingdom, it provides electronic design automation tools focused on the analog testing of various components, including analog-to-digital converters, digital-to-analog converters, regulators, references, and drivers. Ateeda's offerings also include built-in self-test solutions for linear circuits and digital testing for analog circuits, catering to industries such as HD audio, precision medical, industrial, and automotive markets. Founded in 2005 and originally known as York Place (No. 359) Limited, the company aims to enhance the efficiency and quality of semiconductor production, helping microchip enterprises reduce costs while meeting the specifications required by leading consumer brands.

Ocutec

Seed Round in 2007
Founded in 2001 by Professor Neil Graham's team from the University of Strathclyde, Ocutec specializes in designing, developing, and marketing polyethylene glycol-based contact lens materials for vision correction and eye-care markets worldwide. Its products include thermoset and thermoplastic polyethylene glycols, offering hydrated lens surfaces that promote tear film stability, ocular health, and wearing comfort.

Syntropharma

Series A in 2006
Syntropharma Limited is an emerging pharmaceutical company based in Melrose, United Kingdom, founded in 2005. The company specializes in the development and distribution of pharmaceutical products, particularly focusing on skin patches that deliver proven medicines for various diseases, including neurological disorders such as Alzheimer's disease and depression. By reformulating commercially successful generic compounds into transdermal applications, Syntropharma aims to enhance their clinical profiles. The company is committed to creating a pipeline of innovative transdermal products protected by strong intellectual property, which it plans to out-license to pharmaceutical partners for broader market reach.

B1 Medical

Venture Round in 2006
B1 Medical develops and manufactures medical devices for orthopedics. B1 Medical develops and markets products such as soft tissue monitoring, fracture fixation and small joint prothesis products.
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