Aitua invests in Chameleon BioSurfaces Limited

The life science IP commercialisation company, Aitua Limited (“Aitua”), is today pleased to announce that it has invested in Chameleon BioSurfaces Limited (“Chameleon”) and Aitua’s CEO, Dr Catherine Beech, has joined the Chameleon board.
Chameleon is developing the next generation of polymer coatings for implantable medical devices, such as drug eluting stents. Chameleon’s patented technology means that proprietary coatings are polymerised directly from the metal surface giving excellent control of thickness and functionality. This means that medical stents made by this method can be designed to address problems faced by many patients.
Approximately 10% of heart disease patients with a cardiac stent experience complications such as inflammation and blood clots potentially caused by the coating on the stent. Chameleon’s polymer coatings have shown outstanding performance in adhesion and biocompatibility tests which are key factors in addressing the problem.
Dr Catherine Beech, CEO of Aitua commented;
“The number of patients suffering adverse events due to problems with implantable medical devices is considerable. The technology being developed by Chameleon will go a long way to addressing a major problem found in drug eluting cardiac stents and could benefit thousands of patients. We are delighted to be involved in the development of these devices”
Dr David Hollinworth, CEO of Chameleon remarked;
“We are tremendously excited by the confidence shown by our new investors, Aitua, and look forward to working with them on the continued development of our novel devices to solve previously unmet medical needs”
Aitua joins the Rainbow Seed Fund, London Seed Capital (“LSC”), The London Business Angel EIS Tracker Fund, ARC InterCapital, Iceni Seedcorn Fund, GEIF Ventures, PBL and The John Innes Centre, as shareholders in Chameleon.

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