MedaPhor clues on to Parkwalk investment

MedaPhor, a UK-based ultrasound simulation technology spinout from University of Cardiff, has raised an undisclosed amount from Parkwalk Advisors, the fund management division of commercialisation firm IP Group.
Parkwalk invested through its Opportunities Fund, a vehicle set up to receive tax advantages in the UK.
Founded in 2004, MedaPhor develops a range of mainly ultrasound-powered technologies for purposes including medical simulations and training.
The spinout also offers clinical ultrasound applications through Intelligent Ultrasound, which it acquired for $4.9m in shares in September 2017. MedaPhor went public in 2014 through an $8m listing on London’s Aim stock exchange.
The company had received $450,000 in a 2010 round backed by Fusion IP, a commercialisation firm subsequently bought by IP Group, as well as the municipality-run Capital Cardiff Fund and Finance Wales, the devolved government-backed investment unit now known as Business Development Bank of Wales.
IP Group and its Venture Fund II are also among MedaPhor’s earlier investors.