Renovo listing raises L50 million
The successful listing of Renovo, raising L50.0 million ($86.9 million) this month, is testament to the drive and commitment of its founder Mark Ferguson and original venture investor, Atlas Venture, the company has said.
In 2000, Atlas Venture recognized the significant potential for an idea that originated at Manchester University in research conducted by Prof Ferguson, a leader in scarring research and related scientific issues. Together, he and Atlas spun the company out of Manchester University. In seeding the deal, Atlas recognized the unmet medical need in the scar market that Prof Ferguson was looking to address, as well as his pre-eminence in the field.
The firm has taken an active role in building Renovo by not only providing sustained funding, but by spearheading a strong syndicate of investors, recruiting key executive management, developing strategy, and maintaining its commitment to the company's development and its significant market potential.
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