Penningtons Manches Cooper advises Oxford Endovascular on £8 million funding round

Posted: 30/05/2024

The corporate team at Penningtons Manches Cooper has advised Oxford University spin-out Oxford Endovascular Ltd on securing its £8 million Series A+ funding round led by Parkwalk.

Oxford Endovascular, founded in 2015, is a medtech start-up pioneering an innovative method using origami-inspired techniques to prevent brain haemorrhages through the treatment of intracranial aneurysms, a condition that affects 1 in 50 people.

This recent funding will assist in advancing Oxford Endovascular’s medical device, OXIFLOW, towards a first-in-human clinical study. The potential market for devices designed to address brain aneurysms is nearing an annual value of $3 billion.

The client team was led by corporate partner James Went and associate Leo Shrimpton, and also included corporate tax partner Kathy Potter.

Mike Karim, CEO of Oxford Endovascular, said: “This investment further enables Oxford Endovascular's aspiration to transform brain aneurysm treatment and further develops us as a leading medtech company in the UK. I would like to thank the Penningtons Manches Cooper team for its continued support – having James and Leo on our side was invaluable."

James Went commented: “We are delighted to have supported longstanding client Oxford Endovascular, contributing to the success of this latest funding round as the company progresses this much needed technology.”

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