Active Needle Technology, a medtech company that has claimed to develop a device designed to help doctors perform needle-based procedures with greater accuracy and reliability, has successfully secured £350,051 through its crowdfunding campaign on SyndicateRoom. The initiative overfunded to 140% of its £250,000 target.
Active Needle was founded by CEO Ian Quirk, who trained initially as a chemist before moving into product development and regulatory affairs and Senior Technical Officer Muhammad Sadiq, who is a Royal Society of Edinburgh (RSE) Enterprise Fellow. According to the company, by using technology developed at Dundee University, its new product notably addresses the core needle biopsy market. The device broadcasts its location onto the screen of conventional ultrasound detectors. Greater visibility of needles can improve the diagnostic process, allowing the doctor to proceed or adjust as needed.
Active Needle was featured in this quarter’s edition of Tech City News, as one of the ‘Rising Stars in UK Healthtech.’ Ian Quirk is also on the board of Lightpoint Medical, which was also funded via SyndicateRoom in December 2014, raising £989,998.
Quirk, who is also CEO of Active Needle, stated:
“Active Needle is committed to developing precision needle-based devices to improve accuracy during medical procedures, such as biopsies. The clinical impact of precision targeted needles includes increasing confidence of needle tip detection, whilst patients can benefit from reduced complications and discomfort. Funds raised via SyndicateRoom will be used to progress the device to pre-production standard, testing and into regulatory approval.”
Gonçalo de Vasconcelos, CEO and Co-founder of SyndicateRoom, added:
“Active Needle is a clear example of a medtech innovator developing equipment to benefit both clinicians and patients, whilst providing potentially significant cost-saving benefits for the health sector, making the world a better place. We are delighted to welcome Active Needle as the latest medtech success story to join our company portfolio.”
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