Stuart Murray

Shoosmiths has advised P D Neurotechnology (PDN) on its 1.34 million funding for the development of itswearable medical technology.

PDN has received funding of 1m from the founders and angel investors with a follow-on funding commitment of 340,000 from the National Bank of Greece (NBG), 1.34m in total. The funding will see the continued development of PDNs wearable medical technology for continuous monitoring and treating of movement disorders which is anticipated to assist in the treatment of chronic diseases like Parkinsons disease.

Shoosmiths corporate partner Stuart Murrayand solicitor Alexander Lamley advised PDN on the UK legal aspects of receiving the funding that involved a complicated structural arrangement to deal with exchange controls and NBG investment criteria.

Nikolaos Moschos, president of the board directors at PDN, said: This funding will ensure the continued development of our innovative wearable medical technology that will significantly benefit sufferers of debilitating movement disorders and illnesses such as Parkinsons disease. The team at Shoosmiths has provided effective, commercial advice with an efficient and proactive service that has ensured the timely securing of this funding.

Mr Murray added: We are extremely pleased to have assisted PDN on this significant investment into the development of their innovative medical product and wish them all the best for the future.

deals, shoosmiths June 6, 2017

Originally posted here:

Shoosmiths advises PD Neurotechnology on 1.34m investment - Scottish Legal News