Team Consulting invests in Oval Medical

Medical technology firm Team Consulting has joined the consortium of investors that is providing seed funding to Oval Medical Technologies, a developer of proprietary medical pre-filled syringes and autoinjectors.Team will be joining the Cambridge Angels and Cambridge Capital Group, among others to provide Oval Medical with near to £0.5 million of new funds in exchange for equity. This investment will enable Oval Medical to rapidly advance the development of its injection technology, including the production of new drug containers and prototype injection devices for validation by pharmaceutical partners.

Team Consulting’s CEO, Jerry Turner, will join the board of Oval Medical along with other investment representatives, including Phil O’Donovan, Steve Dawson, Catherine Beech and Barbara Lead. Founded in 2009 by its CEO, Matthew Young, Oval Medical develops and maintains its own intellectual property relating to novel prefilled syringe and autoinjector technology.

Although new biological drugs bring great benefits in a range of therapy areas, traditional injectors and syringes cannot always contain these drugs within acceptable levels of contamination, safety and reliability. Oval’s proprietary drug containment technology is suited for these sensitive biological drugs.