We are proud to have advised the Development Bank of Wales on a £2 million equity investment into Cardiff-based medtech innovator Ceryx Medical.
The deal formed part of a £5 million funding round led jointly by the Development Bank of Wales and Parkwalk Advisors. The investment will accelerate the development of Ceryx’s breakthrough technology, designed to support patients with heart failure and other chronic conditions.
This marks the second time the Development Bank of Wales has backed Ceryx Medical, following a £1 million investment in 2022 that enabled the company to bring an external version of its bioelectronic pacemaker to first-in-human trials, in a global clinical study centred at University Hospital of Wales, Cardiff.
Our Corporate Commercial team worked closely with the Development Bank of Wales to provide full transactional support throughout this latest deal, ensuring a seamless and efficient process throughout.
The funding will support the next phase of development for Cysoni – Ceryx’s flagship pacemaker – which mimics the body’s natural rhythms to restore healthy heart function. We are proud to have played a role in helping bring this life-enhancing innovation closer to widespread clinical use.
The team was led by Partner Greg Williams, supported by Solicitor Tomas Stephens.
Greg Williams, Partner, commented:
“We’re proud to have supported the Development Bank of Wales once again on this landmark investment. Ceryx Medical is a business doing exceptional work at the intersection of medtech and patient care. We look forward to seeing the continued growth of Ceryx as it moves through this next chapter.”
Tom Davies, Investment Executive at the Development Bank of Wales, said:
“We’re thankful for the guidance from Greg and the team at Hugh James, and for the valuable support they provided for our investment into Ceryx. Their expertise helped to ensure a smooth transaction, and we’re pleased to have partnered with them on this deal.”
