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Touch EMAS Secures Further Investment

Touch EMAS, the first NHS spinout to be launched through Scottish Health Innovations Ltd (SHIL), has secured a second round of seed investment from Archangels, the leading group of Edinburgh-based business angels. The company, led by CEO David Gow, has developed a pioneering modular system of upper limb prostheses, incorporating the world's first electrically-powered shoulder.

The company's first seed investment round in July 2003 has enabled the company to fast track the prototype development of its first product, a novel hand prosthesis with articulating finger components that provides users with greatly increased flexibility of function. This follow-on investment from Archangels will facilitate the pre-production development of a further 3 artificial arm components (shoulders, elbows and wrists) of the modular system by the middle of 2004, and the company's products will be available to benefit users globally in mid 2005.

David Gow, the CEO of Touch EMAS and inventor of the prosthetic technology, said: "I'm delighted that Archangels have shown faith in our work to date and look forward to the exciting task of bringing the first of what I believe are world beating products on stream. Scotland and the NHS have much to be proud of here with these important developments".

Peter Shakeshaft of Archangels said: "We have been extremely pleased with the progress made by the company to date and were happy to follow our initial investment in Touch EMAS, demonstrating our continual desire to support early stage companies through their various funding round requirements."

Cameron Macdonald, CEO of SHIL, added: "This additional investment by Archangels underscores that our confidence in the progress made by Touch EMAS is shared by the Company's investors. It also reinforces our belief that the NHS has a key role to play as an innovator and incubator of new technologies and clinical treatments. Through its partnership with the NHS, SHIL hopes to make further significant contributions to the development of a successful life sciences industry within Scotland".