PolyTherics Limited, a London, UK-based developer of a suite of technologies to improve the properties of biologics for therapeutic use, completed a £3.0m round of funding.
The round was led by Imperial Innovations Group plc (AIM: IVO), with participation from Longbow Capital and The Capital Fund.
This investment follows on from a £2.3m financing backed by the same syndicate in June 2007.
The company intends to use the new funds to further develop its proprietary PEGylation platforms, HiPEG™ and CyPEG in the context of novel peptides and proteins as potential “biobetter” products.
In conjunction with the financing, Robert Bahns of Imperial Innovations joins the board of the company, while Till Medinger and Stephane Mery resign from their non-executive director positions.