Womble Bond Dickinson (WBD) has advised Mercia Asset Management plc (Mercia) on the recent £535,000 investment in IBEX Innovations, a technology firm based in County Durham.
The funding will support the commercialisation of the Trueview technology, a new software designed to help detect breast cancer through improving the quality of images and reducing the dose of radiation the patient receives. It incorporates advanced physics and artificial intelligence.
The funding has come from the North East Venture Fund (NEVF), supported by the European Regional Development Fund and managed by Mercia, along with IP Group and private investors.
The WBD team advising on the transaction was led by corporate associate Oliver Rickett.
"The investment in IBEX Innovations will play a crucial role in the detection and treatment of breast cancer, improving the lives of so many patients and saving precious time and resource for our amazing national health service. We're delighted to have worked with Mercia on this latest investment round."
Ranking in the UK's top 20 law firms, WBD provides legal expertise in eleven key sectors from across eight offices in the UK and 19 offices in the US. The firm has a large corporate practice in the UK advising national and international clients on a broad range of corporate transactions, particularly M&A, IPOs, private equity investments as well as growth and development capital fundraisings.