Reading firm Osborne Clarke at centre of £80million life science deal

By Stephen Emerson

5 October 2022

Share

The Business Magazine article image for: Reading firm Osborne Clarke at centre of £80million life science deal

Businessman working on laptop with PRIVATE EQUITY inscription, new business concept

Reading law firm Osborne Clarke have helped secure Series C equity funding of £71million for health tech platform Proximie.

Lead investors in the funding round were Advent Life Sciences.

Formed in 2009, Advent Life Sciences invest principally in medtech, drug research and enabling technologies, and medtech, the firm is active in the UK, US, and France.

Existing investors F-Prime Capital, Eight Roads, Questa Capital, Global Ventures, and Maverick Ventures also participated in the round.

Advent were joined in the funding round by new investors Emerson Collective, the impact investor founded by Laurene Powell Jobs as well as SoftBank Vision 2, British Patient Capital, Mubadala Investment Company and the Minderoo Foundation.

Proximie is a tool allowing surgeons to virtually “scrub in” to any operating room in the world, extending the capabilities of surgeons to areas without access to top surgical care. It was launched in 2016.

The capital raised will provide the Proximie platform with ability to accelerate product and service development, develop their marketplace ecosystem and scale its centralised platform delivering connected surgical care.

The Osborne Clarke team assisting Advent Life Sciences was led by partner Justin Starling, who was supported by associate director Robert Pook and associate Chris Flach. The team behind the deal are based in the firm’s Reading office.

The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

Read more - South Coast Property Awards 2022 - Gallery

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.