#CODEInvested: update from Cipher Surgical

by Apr 12, 2017Success Stories

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We caught up with Andrew Newall, Managing Director of Cipher Surgical to see how they’re doing a year on since their last raise with us.

Cipher Surgical #CODEInvested funding success

Cipher Surgical’s first funding raise with CODE Investing was in 2016 when they raised over £1.9million. This was to fund the launch of their primary product OpClear®.

The OpClear® is an innovative, new technology created by Cipher Surgical, aimed at transforming laparoscopy. During keyhole surgery, surgeons rely on a camera attached to a scope to see the site they’re operating on. Often lens can get obscured by blood, tissue or condensation, endangering the success of the surgery.

The OpClear® product solves this problem by allowing surgeons to clean the lens of their laparoscope without disrupting the surgery. A footswitch the surgeon operates, delivers precise small controlled pulses of carbon dioxide and saline to the lens.

We asked MD Andrew Newall what’s happened since the fund raise with us last year who told us that Cipher Surgical has made a good start with regards to launching OpClear®.
Managing Director of Cipher Surgical Andrew Newall

“The immediate outlook is positive and the device has been rolled out to at least five different territories” Andrew tells us. “Initial orders from UK, Australia and Canada have been encouraging and we’re well on track to meet our long-term sales forecasts.”

Andrew also explains why the main competitor to the OpClear® – Floshield has now gone out of business. Cipher Surgical believe this was because the Floshield device didn’t work well enough and didn’t sell much as a result. This is all good news for Cipher Surgical, who received their safety CE last year and has had positive feedback from surgeons trialling the device.

Want to hear from more UK businesses who have raised finance with CODE Investing? Take a look at some of our other Success Stories now.

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Risk Warning

Investing in early stage businesses involves risks, including illiquidity, lack of dividends, loss of your investment and dilution and it should be done only as part of a diversified portfolio. CODE Investing Limited is targeted exclusively at investors who are sufficiently sophisticated, or who are judged by CODE Investing Limited otherwise to be appropriate, to understand these risks and make their own investment decisions. You will only be able to invest with CODE Investing Limited once you are registered as sufficiently sophisticated or otherwise appropriate for these types of investment. Investors via CODE investing are not protected from loss by the Financial Services Compensation Scheme against the Company’s default or for any losses they may suffer. Please read the full risk warning for more information. This page has been approved as a financial promotion by CODE Investing Limited, which is authorised and regulated by the Financial Conduct Authority. Investments can only be made on the basis of information provided in the pitches by the companies concerned. CODE Investing Limited takes no responsibility for this information or for any recommendation or opinions provided by the companies.

Tax Wrappers note: Innovative Finance ISA (IFSA), Self Invested Personal Pension (SIPP) and Small Self Administered Scheme (SSAS) : eligibility depends on an individual’s circumstances and is subject to change in the future.