Deepbridge is delighted to commit £1m to a £2.25m funding round by existing investee company Liverpool ChiroChem. We are pleased to be joined by funding partners from Praetura Ventures and NPIF - Maven Equity Finance, which is managed by Maven and part of the Northern Powerhouse Investment Fund, as part of the funding round.
Liverpool ChiroChem operates in the supply chain of pharmaceutical research and development, supplying specialist chemical building blocks that enable laboratory-based researchers to discover and build new drug molecules.
With renewed support from its investment partners, LCC now plans to increase investment in its facilities in Liverpool and China, continue to recruit the best-in-class talent so it can expand its research and development activities to accelerate production and ensure its international client base has the chemical compounds needed to make new drug discoveries.
Dr Savvas Neophytou, partner and head of life sciences at Deepbridge Capital, commented:
“LCC was a pre-seed investment in 2014, since then we have led each funding round and have worked closely with its management team on refining its business plan, upskilling and generating defensible positions to facilitate its future growth. We are pleased with the progress that the team continues to make with regards to the discovery and commercial production of novel chemistry. One of the rewards when supporting growth-focused companies is witnessing this growth and success. Our funding of LCC is a great example of how the Enterprise Investment Scheme allows private investors to access early-stage growth opportunities they otherwise may not have exposure to.”
Dr Paul Colbon of LCC, added:
“This new injection of capital and support will really allow us to accelerate production and distribution capabilities. Despite the current challenges facing businesses worldwide, we have been able to pivot our business model to make the most of our time working remotely. In the UK we have been able to invest time into the design and planning of future experiments, while our manufacturing facility in China is once again fully operational.
“This would not have been possible without the commitment of our team and the continued support of our partners. We have a world-class team in the UK and China that are working extremely hard to unlock new chemical space that will underpin the development and discovery of new drugs and I’m looking forward to working together as we embark on the next phase of our growth journey.”
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