Maxwellia, an Alderley Park, UK-based self-care company, raised £3.2m in funding.
The round was led by Praetura Ventures with participation from the Future Fund, Catapult Ventures, Alderley Park Ventures and Biocity along with individual and angel investors. In conjunction with the funding, Praetura Ventures’ director Dr Andy Round became a non-executive director.
The company intends to use the funds to scale up the manufacture and rollout of its drugs following MHRA approval, invest in marketing and expand its team.
Founded in 2013 by chief executive Anna Maxwell, a pharmacist with over 20 years’ experience, Maxwellia aims to give people access to the treatments they need by converting prescription-only medicines to versions that can be bought in a pharmacy. It already has three applications under assessment with the MHRA, and is currently awaiting approval of its women’s health product following a public consultation.