Pure chemicals company raises finance
18 May 2018 by Evoluted New Media
A Liverpool based chemical intermediates company has raised £1.5m in equity finance to support the Company’s growth plans and increase production capacity overseas.
The Company, originally a spin-out from Liverpool University, has the capability to produce exceptionally pure chemical forms using its own patented technology and has already established itself firmly within the pharmaceutical and drug discovery supply chain. Founded just three years ago, it counts over 70 pharma, biotech and agrochemicals customers including Merck, Novartis, Domainex, Syngenta and Bayer.
The new fundraise round was led by Praetura Capital and the Northern Powerhouse Investment Fund (NPIF), and supported by long standing investor Deepbridge Capital. Dr Paul Colbon, CEO of LCC, commented: “This latest funding round marks the beginning of the next stage of growth and progression for the Company. LCC’s continued investment into cutting-edge R&D has led to the successful development of an IP pipeline that can now be fully exploited by a world-leading production facility being developed in China.”
In order to fulfil the demands of a growing customer base around the world, the money will be used 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 National Science Park, in the city of Taizhou, Jiangsu Province.
