One of Wales' leading life sciences firms has raised more than £40m.
The Chepstow-based Creo Medical has announced it has conditionally raised £43m through the issue of new shares.
The company is also proposing to raise up to £6.6m by way of an open offer.
The business first moved to Wales in 2012 on the back of an investment from Finance Wales. It floated on the Alternative Investment Market in June, 2016.
Creo intends to use the injection of funds to continue its development of electrosurgical devices, clinical trials for Chinese and Japanese markets, and a US commercialisation expansion, which includes potential mergers and acquisitions.
The company is also looking to develop IP portfolio in areas such as plasma sterilisation, neurology and additional energy modalities within the CROMA Advanced Energy Platform.
The CROMA energy platform enables bipolar radiofrequency energy and high frequency focussed microwave energy to be delivered to its devices via a single accessory port.
Craig Gulliford, Creo's chief executive officer, said: "The injection of additional funds ensures that we can fully capitalise on the growing opportunity that endoscopic surgery offers and will help to accelerate the commercial roll-out of our wider suite of patented electrosurgical devices powered by the CROMA Advanced Energy Platform.
"This also provides us with a platform to explore potential strategic acquisition opportunities in areas where we can identify adjacent technologies or infrastructure that will support our ambitious growth plans."
