Wealth Club-backed Inotec raises $33 million to accelerate US expansion
Over 100 million people worldwide are estimated to suffer from chronic wounds – from diabetic foot ulcers to pressure injuries, and wounds that don’t heal properly after injury or surgery. Conventional treatments can fall short, and such wounds can take months or even years to heal.
Medical technology company Inotec AMD was founded in 2003, born of an inventor’s search to alleviate an ageing aunt’s suffering.
The technology has saved many a patient from having to go down the route of amputation because of a non-healing wound.
With the aim to make its therapy more broadly accessible to patients across the US and beyond, the company has just announced the successful close of a $33 million Series C funding round led by existing investors Amadeus Capital Partners, Meltwind, Puhua Capital and Wealth Club.
Wealth Club investors have backed Inotec through several funding rounds from December 2020, investing a total of over £9 million under EIS to date.
Inotec AMD’s global success is rooted in our dedication to patient-centric innovation, especially through our work with NATROX O₂. This latest round of financing underscores the confidence our investors have in our vision and our ability to make a significant impact in the wound care space providing life-altering improvements for our patients.
Important: The information on this website is for experienced investors. It is not a personal recommendation to invest. If you’re unsure, please seek advice. These investments are for the long term. They are high risk and can fall as well as rise in value: you could lose all the money you invest. Tax rules can change and benefits depend on circumstances.
More about Inotec AMD
Considered a forerunner in “continuous topical oxygen therapy” (cTOT) for advanced wound care, Inotec’s award winning NATROX® O₂ device uses the natural healing properties of oxygen to help heal chronic wounds.
The compact wearable device – about the size of a mobile phone – generates and delivers a continuous flow of humidified oxygen directly to an open sore or wound. This means patients can continue treatment at home – or, in some cases, even whilst they carry on moving around with daily activities or work.
Cambridge-based Inotec believes its technology could help save healthcare costs and improve patient outcomes.
About the investment
Inotec aims to use the proceeds from this round to accelerate its strategic initiatives, including the essential step of obtaining national US reimbursement for NATROX O₂, paving the way for greater adoption of the technology,
The company also plans to use the funds to help expand its leadership team, strengthen its global capabilities, and drive future growth and innovation.
Amadeus backed Natrox from inception and it is fulfilling to see this best-in-class technology now available in a growing number of markets. NATROX O₂ is already authorised to sell in 46 countries. It is becoming the reference advance therapy for the healing of chronic wounds across private and public health systems globally. Securing national coverage in the US is another step forward for the team.
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.
Alex Davies
Chief Executive
Alex was a board director at Hargreaves Lansdown, where he worked for 15 years. He was responsible for building Hargreaves Lansdown into the biggest direct-to-consumer SIPP provider in the UK with more than 150,000 clients and over £12 billion under management. He is a keen investor with a portfolio of shares, funds, student property, EIS and VCT investments.