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Touch Bionics secures angel loan

Touch Bionics, which launched its 'bionic fingers' worldwide in December 2009, has received an £800,000 loan from its principal investors.

Archangel Informal Investment, an Edinburgh-based business angel syndicate, provided the loan alongside the Scottish Co-Investment Fund, an arm of regional development body Scottish Enterprise. Both are equity investors in Touch.

John Waddell, chief executive of Archangel, said: ?Touch Bionics is at too early a stage to attract bank funding in the current market, but the company is profitable and needs additional funds to continue its fast pace of growth.?

In addition to its prosthetic fingers, Touch Bionics has also brought to market a full artificial hand which it claims ?both looks and acts like a real hand?. Last year it acquired Livingskin, a developer of synthetic skin.

Added the 11 February 2010 in category Company News