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Ceryx Medical secures £5 million to advance revolutionary pacemaker technology

Ceryx Medical secures £5 million to advance revolutionary pacemaker technology

Daniel Bevan - Senior Journalist

Daniel Bevan - Senior Journalist

Cardiff-based medtech innovator Ceryx Medical has raised £5 million in a new equity funding round to accelerate the development of its next-generation pacemaker technology aimed at transforming treatment for heart failure patients.

The round was led by the Development Bank of Wales and Parkwalk Advisors, the UK’s largest investor in university spinouts. Additional backing came from BGF, Bristol Private Equity Club, and other private investors.

As part of the deal, the Development Bank of Wales invested £2 million via its Wales Flexible Investment Fund, while Parkwalk contributed £1.75 million.

Ceryx is developing a ground-breaking pacing device that uses artificial neuron technology to more closely mimic the natural variability of a healthy heart. Unlike traditional pacemakers, which maintain a steady beat, Ceryx’s technology enables the heart to adjust in real-time to the patient’s breathing and activity levels, thereby enhancing cardiac efficiency.

“Our technology promises to be an effective therapy for those suffering from heart failure, giving them the chance to recover by replicating the rhythms and variability of a healthy heart,” said Stuart Plant, CEO of Ceryx Medical. “We’re thrilled to secure this investment to help us move into clinical trials and begin developing a miniaturised implantable version of the device.”

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Heart failure affects an estimated 30 million people globally, with approximately half of all patients dying within five years of diagnosis. Ceryx aims to improve both quality of life and survival rates with its more adaptive approach to heart rhythm management.

This marks the second round of funding from the Development Bank of Wales, which previously invested £1 million in a £3.8 million round in 2022. That earlier investment helped Ceryx bring its external pacing device to initial human trials, supported by a global clinical study based at University Hospital of Wales in Cardiff.

“Ceryx is a pioneering Welsh medtech company developing a breakthrough treatment for heart failure,” said Tom Davies, Investment Executive at the Development Bank of Wales. “Its device has the potential to transform millions of lives, and we’re proud to continue our support.”

Alun Williams, Investment Director at Parkwalk Advisors, added: “Ceryx combines significant societal value with compelling commercial potential. We’re excited to back their vision as they move toward clinical adoption.”

The Wales Flexible Investment Fund, managed by the Development Bank and financed by Welsh Government, provides loans, mezzanine finance, and equity investments from £25,000 to £10 million, with repayment terms of up to 15 years.

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