Shoosmiths advises P D Neurotechnology on €1.34m investment

Shoosmiths has advised P D Neurotechnology (PDN) on its €1.34 million funding for the development of its wearable 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 PDN’s wearable medical technology for continuous monitoring and treating of movement disorders which is anticipated to assist in the treatment of chronic diseases like Parkinson’s disease.

Shoosmiths’ corporate partner Stuart Murray and 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 Parkinson’s 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.”