Pioneer Group (formerly the BioCity Group), the life sciences venture incubator in the UK, has invested in Selentus Science, a surgical innovator, to support the development of new surgical haemostat, TenaTac.
No financial details have been disclosed.
Selentus is based at Pioneer’s BioCity Nottingham site and the Pioneer investment team have known CEO Ben Nichols for many years, having previously invested in and successfully exited Haemostatix, the company he formerly led.
Selentus has developed TenaTac, an innovative medical device that controls bleeding during a surgical procedure while also reducing the risk of post-operative haemorrhage.
Ben Nichols, CEO of Selentus, said: “This investment really validates the innovation at Selentus and will assist in the funding of a post-approval clinical study of our lead device, TenaTac, and the development of an exciting pipeline of new products for surgical bleeding and wound therapy.
“We have benefited enormously from working in the BioCity, Nottingham life sciences ecosystem and from Pioneer Group’s specialist and dedicated support network. We intend to continue our ambitious growth plans with Pioneer’s support.”
Dr. Imelda Juniarsih, investment manager at Pioneer Group, said: “Our mission is to help life sciences businesses, such as Selentus, thrive at every stage of their innovation journey.
“We are proud to come in as lead investor in Selentus and strongly believe in the innovation behind TenaTac, a medical device with an exceptional IP that solves a key gap in the haemostatic market. We are excited to be supporting Selentus’ growth through our investment as well as our all-round incubator programme.”
