Innovations increases stake in OSspray

Imperial Innovations has increased its stake in OSspray, an emerging speciality dental company active in the hygiene and minimally invasive sectors, by investing a further £750,000. This is part of a drawdown of a further £1.5m by OSspray under an existing funding arrangement. Innovations was the lead investor in the round. Its co-investors included NESTA and The Capital Fund, managed by YFM Venture Finance. In addition Simon Cartmell, Chairman of OSspray and chief executive of ApaTech, recently sold to Baxter Healthcare, has invested in the round. Innovations which has invested a total of £2m, now has a 37.7% share in OSspray on a fully diluted basis.

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