Bedsore sufferers’ saviour nets £230,000
Article Date: Aug 20 2008APA Parafricta, a developer of low-friction fabric for the medical sector, has secured £230,000 to help set up a global distribution network for the product. The investment comes from business angel group the Oxford Investment Opportunity Network (OION) and Bank of Scotland Corporate.
OION and Bank of Scotland contributed £115,000 each under a co-investment programme between the two organisations.
The investee company claims its product is more effective in the prevention and treatment of bedsores and chronic wounds than silk, which is traditionally used for this purpose. The company has developed pillowcases, bedsheets, bootees and undergarments made from this material.
APA Parafricta’s CEO George Sampson says that the funding will help expand the company’s marketing activities, including improving its website for online sales direct to the public.
Eileen Modral, investment network manager at OION, comments, ‘Parafricta’s products have great potential to ease suffering for patients with chronic wounds and we are pleased that we have been able to help with raising investment at a crucial time in the company’s development.’
