Olberon Medical’s flagship product is the Vacuderm, a device which helps to reduce failure rates in cannulation procedures in children. Cannulation (inserting a hollow tube into the vein) is the most commonly performed invasive medical procedure and can have high failure rates in children due to increased anxiety levels and smaller veins. The Vacuderm smart tourniquet incorporates a dome to be pumped, which the child can assist with to distract them, helping to make a smaller vein bigger and ultimately reducing the number of attempts at cannulation.
Olberon has also developed the Otorhinoscope, a diagnostic device which is a dual purpose ear and nose examination device and offers consultancy services to both the NHS and the wider medical device market.
Looking to take advantage of growth in the global medical device market, which is expected to be worth $343 billion by 2021, the company will use the proceeds of the fundraise to launch development of the children’s Vacuderm and grow sales distribution networks in both the UK and internationally for its commercial ready medical devices.
Olberon is looking to raise a minimum of £100,000 on the Crowd for Angels platform, and up to £250,000, with a minimum investment per investor of just £28.50. Investors putting in £1,000 or more will receive boxes of the Vacuderm product for a hospital or clinic of their choice. In addition, the shares have advanced assurance for the Enterprise Investment Scheme (EIS), meaning that qualifying investors will be able to enjoy tax benefits on their investment.