Evgen Limited, a Liverpool, UK-based pharmaceutical company, has raised its first “significant” venture capital investment.
Backers include the North West Fund for Biomedical, which is managed by early-stage venture capital firm SPARK Impact, and EV Group‘s Rising Stars Growth Fund, and a number of private individuals.
Founded in 2008 by CEO Dr Stephen Franklin, the company is dedicated to commercializing the clinical potential of sulforaphane. Evgen intends to use the funds to complete the pre-clinical development of Sulforadex®, a patented pharmaceutical composition with potential in the prevention and treatment of prostate cancer and other cancers.
A second closing is expected later in the year.