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22 November 2010 Giltech, a world leader in the field of controlled delivery and biodegradable technologies, is delighted to announce the completion of a £1million investment agreement with a Stacey Ventures Syndicate led by Dr Mike Stacey. Stacey Ventures provides strategic consulting services and investment in a number of industry sectors. Speaking about the deal, Gillian Watson, Managing Director of Giltech said “I am delighted that Mike and his fellow syndicate members have made the decision to invest in Giltech. Giltech is entering an exciting phase of its evolution, with an expanding pipeline of novel development projects. We are also working alongside a range of top-tier global companies. This investment will allow us to expand our capabilities and work across a greater number of projects, as well as accelerating our plans to move to larger premises and invest in people and IP. We’re very much looking forward to working with Mike and to the exciting future ahead.” Mike Stacey added: “We are delighted to invest in Giltech. Stacey Ventures is committed to helping Giltech develop its full potential with the aid of our financial, business and strategic support. We believe this company can convert its platform technologies into major product businesses across a number of market sectors. Our investment will allow strengthening of the management and operations team, as well as supporting the exciting new project developments already underway”. Since its early days developing new biomaterials for medical devices, Ayrshire based Giltech has established a number of innovative technologies based on biodegradation and controlled release. These include biodegradable phosphate glasses in which it has an unparalleled knowledge and skill base. Marketed under the CorGlaes® Pure and CorGlaes® Active brands, these products are uniquely formulated for each bespoke application to ensure an appropriate dissolution profile for the task in hand is achieved. Whilst CorGlaes® Pure has huge potential as a biomaterial for implants or resorbable devices, CorGlaes® Active provides a unique platform for controlled release of transition metals, such as silver, copper and zinc, in their ionic forms. Giltech’s expertise in alginate technologies is illustrated by the success of its pioneering Sorbsan dressing which established alginates as a core tool in advanced wound care management. It continues to develop second and third generation improvements around this technology platform helping to further develop the performance of advanced wound care products and to enhance the overall patient experience. As well as maintaining a strong presence in the medical sector, Giltech is also expanding its controlled release technology and products into areas such as water treatment, nutrient delivery and the oil and gas sector .These new marketplaces provide exciting growth opportunities for Giltech’s technology and product portfolio. Mike Stacey founded and developed oil and gas engineering consultants, Granherne, before selling the company to a major US corporation. He was also a main board director and executive of Petrofac prior to its successful IPO.
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