Liverpool ChiroChem, a Liverpool, UK-based based chemical intermediates company, raised £1.5m in equity funding.
The round was led by Praetura Capital and the Northern Powerhouse Investment Fund (NPIF), and supported by investor Deepbridge Capital. In conjunction with the funding, Mike Fletcher, managing partner of Praetura, will join the Board as a non-executive Director.
The company will use the funds to expand the UK based R&D and sales teams and increase production capacity through the construction of a new facility located on the China Medical City (CMC) National Science Park, in the city of Taizhou, Jiangsu Province.
Originally a spin-out from Liverpool University and led by Dr Paul Colbon, CEO, Liverpool ChiroChem (LCC) is a chemistry-based contract research organisation (CRO) that produces and supplies chiral small molecules to the pharma and biotech R&D industry. The company’s specialist products can be used as building blocks, fragments, API and intermediates to enable small molecule drug discovery, lead generation and optimisation.
Founded three years ago, LCC counts over 70 pharma, biotech and agrochemicals customers including Merck, Novartis, Domainex, Syngenta and Bayer.
The company intends to complete a further fundraising later in the year to expand its workforce further and build its product library. Prior to this latest funding round and since incorporation in 2015, LCC has raised £1.1m private equity through VCs and Angel investors.