Lawyers at international legal practice Osborne Clarke’s Bristol office have helped a pioneering medical devices group focused on the emerging field of surgical endoscopy raise up to £48.5m through a share placing.
Chepstow-based Creo Medical’s flagship product, called Speedboat, pictured, allows doctors to carry out surgical procedures without the need to puncture the skin. 
Proceeds from the share sale will allow Creo, which floated on the London Stock Exchange’s Alternative Investment Market (AIM) in 2016, to commercialise Speedboat as well as develop new products and enter new markets.
The firm said the sale of nearly 39m shares at £1.25 each was significantly oversubscribed.
The Osborne Clarke team that advised on the deal was led by corporate partner Mark Wesker assisted by associate Oliver Gingell. Its corporate team has particular expertise in the life sciences and healthcare sector, working with leading global businesses, fast-growth start-ups and market challengers.
The team advises at every stage of company development across all corporate areas, from equity and debt fundraising to mergers and acquisitions, initial public offerings and joint ventures.
Creo said it will now extend its clinical education programme, increase the number of distribution agreements with third parties and partners worldwide and accelerate the roll-out of its products.
It will also grow its manufacturing capability and product range, look to establish a presence in the US and explore potential strategic mergers and acquisitions.
Osborne Clarke has more than 500 people at its Bristol office. It also has offices in Reading and London and 13 countries across the world.
