PneumaCare, the Cambridge UK-based respiratory monitoring medical imaging company, has announced the closing of a new 1 million pound financing.

The fund raising was supported by existing investors including Sud Investments, Torteval, and business angels from Cambridge Capital Group and Cambridge Angels.

In parallel with the financing, the Company has announced the appointment of Edward Benthall to the Board of Directors. Edward Benthall is a former partner at Charterhouse Capital Partners, a private equity firm based in London. He is also an active participant in the Cambridge business angel community, through his membership of the Cambridge Capital Group. Edward is currently Chairman of Cambridge Enterprise and the recently launched Cambridge Innovation Capital Fund.

As part of the financing, PneumaCare is expanding its premises at the St. John's Innovation Centre in Cambridge to enable increased production volumes, provide training facilities for its customers and distributors and to support commercial expansion generally.

'This financing from our existing investor base is fundamental to PneumaCare's aggressive plans for expansion in Europe and North America,' said Dr. Bill Mason, Chairman of PneumaCare. 'Our recent appointment of industry veteran CEO, Mark Harwood, has given our investors confidence that the company is geared for expansion and growth. We have two CE-marked products which are now entering the commercial phase, and a range of clinical studies are in progress in UK and Europe. These will provide proof of clinical efficacy for a wide spread of human diseases in the area of lung function.'