ApaTech, a global leader in synthetic bone graft technologies, today announces the completion of a venture loan of £1.5m/$3m provided by Noble Venture Finance.
Noble Venture Finance provided ApaTech with an initial venture loan of £2m/$4m in July 2006 to fund the development of its world class manufacturing facility in Elstree, UK. The new loan facilitates the acceleration of Actifuse commercialisation in the UK, Germany and the USA.
Simon Cartmell, Chief Executive Officer of ApaTech commented: “Actifuse is increasingly acknowledged as the best bone graft material available and we want to accelerate its adoption in the USA, Germany and the UK. This loan facility will enable us to make the appropriate investments to realize that goal. I am delighted that we have been able to work with Noble again to secure additional funds.”
Noble Venture Finance provides debt finance to growth companies throughout the E.U., alongside the investment in these companies by established venture capital firms. Venture finance typically comprises leases, loans or hire purchase facilities to provide working and/or fixed capital for assets such as manufacturing equipment, computers, telecommunication systems, laboratory test and measurement and other equipment. The fund provides these companies with financing of between £500,000 and £5m in return for a running yield and an equity kicker of c. 15% of the value of the facility.
Mark Taylor, Chief Executive of Noble Venture Finance stated “We are delighted with the success of ApaTech to date and pleased to extend the loan facility we have in place. Working in partnership with growing businesses to help realise their ambitions is exactly why venture loans exist and as a leading UK provider of this type of instrument we are pleased to support the development of a UK success story”
Further Information:
ApaTech
Simon Cartmell, CEO 020 8731 4640
simon.cartmell@apatech.com www.apatech.com
Noble Venture Finance
Mark Taylor, Head of Venture Finance 020 7763 2200
Mark.taylor@noblegp.com www.nobleventurefinance.com
Sandra Hope, Director 020 7763 2200
Sandra.hope@noblegp.com www.nobleventurefinance.com
About ApaTech
ApaTech Limited, based in London, England, is a world leader in bone graft technologies. Founded in 2001 and based on research and intellectual property from London and Cambridge Universities, ApaTech has introduced a novel silicate substituted calcium phosphate bone graft material, ActifuseTM globally. The company believes that Actifuse is the first of a new class of synthetic bone graft material that combines osseo-conductive and osseo-stimulatory activities.
Actifuse is available as a range of granule and microgranule formulations, including in an EasyPrep applicator and as an Advanced Bone matriX, Actifuse ABX Easyfill Putty.
To date the Company has raised £11.5m of equity from 3i plc and MTI and £3.5m of debt from Noble Venture Finance. ApaTech commercializes its products, Actifuse and ApaPore in 19 countries around the world and is achieving rapid sales growth.
ApaTech is based in Elstree, UK, Berlin, Germany and Foxborough, Mass, USA. The Company sells in the US, UK, Germany and 16 other countries around the world. More details can be found at the website, www.apatech.com
About Noble Venture Finance
Noble Venture Finance (“NVF”) is a £45m fund managed by Noble Fund Managers Ltd (“NFM”) (NFM is part of the Noble Group, an independent UK investment bank) and focused exclusively on providing debt finance to fast growing privately held venture capital backed companies throughout the EU. NVF provides facilities from £0.5 million to £5 million over a period of time and can syndicate larger amounts through its extensive bank connections. It will provide facilities in Sterling, Euros or US dollars over repayment periods of typically up to 36 months.
