Stevens & Bolton has advised medical start-up, Eventum Orthopaedics, on the successful completion of a funding round, raising £1.4m to bring its device to market. This exciting deal combines the expertise of our entrepreneurs practice with our life sciences specialism, advising on fundraising documents as well as intellectual property matters.
Eventum Orthopaedics is a Yorkshire-based business founded by John Naybour and Paul Atherton, who between them have almost 50 years’ experience in the field of orthopaedics. They have been supported with the fund raise by NXD Mike Cripps who has a wealth of SME and start-up experience. The company has developed sensor technology designed to improve outcomes for patients having knee replacement operations. The funding will allow the team to finalise development and bring the product to market in 2022.
The investment round was led by Mercia and the Northern Powerhouse Investment Fund which provides over £500m of investment to boost small and medium business growth in the North of England.
Mike Cripps, NED and Co-Founder of Eventum Orthopaedics said “Stevens & Bolton proved to be a great partner to see us through this seed funding round. Nick and his team were very professional and offered excellent support and advice throughout the process. I have been through several fund-raising exercises prior to this deal and I found Nick in particular to be exceptional. He has the unique ability to put complex legal issues into layman’s language which helped the founders understand what was happening every step of the way. The whole Stevens & Bolton team were very responsive in what was quite a complex deal with lots of moving parts and I have no hesitation in highly recommending them to other teams looking for support for a funding round”
Nick Atkins, corporate partner at Stevens & Bolton commented “It has been great to work alongside Mike and co-founders John Naybour, Paul Atherton, and we are excited to watch Eventum finalise the product’s development and bring it to market. The medical devices Eventum plan to create promise to be truly life enhancing for patients, and it’s a real honour to have been involved in this fundraising.”
The team was led by Nick Atkins, and supported by Nassar Nassar (senior associate, corporate), Catherine Sellars (associate, corporate), Joshua Day (trainee solicitor, corporate) and Charlotte Tillett (partner, intellectual property).