- £0.25m raised from a syndicate including Catapult Ventures, existing shareholders and new HNW individuals
- Funds to be used to launch a high-potency facility at YProtech’s Alderley Science Park base
- Tony Flinn appointed to the Board as a new Non-Executive Director
Manchester-based corporate finance house Acceleris Capital today announces that it has successfully completed an oversubscribed fundraising for YProtech Ltd.
YProtech Ltd (“YPT” or “the Company”) is a specialist High Value Chemistry Services Company formed in 2011 aimed primarily at the Life Sciences sector. Based at Alderley Science Park, Cheshire, the core of the Company’s business relates to the provision of chemistry technical services to Pharmaceutical, Biotechnology and Agrochemical R&D companies.
The new investors include Catapult Ventures, through their GM&C Life Sciences Fund, which invests in biotech and life science opportunities in Greater Manchester and Cheshire and Warrington.
The funds will be used to provide additional growth capital to support the company’s diversified pipeline of opportunities since the relocation to Alderley Park. The funds will support the launch of the company’s new High-Potency facility following completion of the core fit-out using the funds from the previous raise. This facility will further expand the company’s pipeline of opportunities, as it enables YPT to offer services at a significantly higher commercial rate to its standard services.
Tony Flinn has joined the Board as a new Non-Executive Director. Tony was previously CEO of Onyx Scientific, which he founded in 2000 to offer contract chemistry services to many of the world’s leading drug developers. He grew the business to become one the fastest growing technology companies in the UK, employing more than 60 staff at its peak, before being acquired by IPCA, a large Indian pharmaceutical service provider in 2011.
Commenting on the fundraise, YPT’s Chairman Pete Jackson, said, “We are delighted by this fundraising, which was oversubscribed and expands the resources available to YProtech as we continue to develop our offering into the fast growing area of High Potency chemistry services. This now differentiates YProtech in the market and with the growth capital secured we are able to immediately capitalise on the new facility.
Simon Thorn, Corporate Finance Director at Acceleris Capital, said:
“Few service companies have invested sufficiently in process chemistry or production technologies over the past five years. YPT has assembled an experienced commercial team of directors and advisors with market access to applicable technologies and the scientific networks in place to achieve its goals. We look forward to seeing the company grow following this recent fundraise. ”
YProtech were advised by Simon Wallwork at Slater Heelis and Catapult were advised by Ward Haddaway.
Acceleris Capital Ltd, launched in 2000, has an expertise in arranging and managing investments by private individuals under the Enterprise Investment Scheme (EIS) and under the Seed Enterprise Investment Scheme, as well as taking an active role in the management of the companies. Acceleris has, to date, arranged funds in excess of £80m into over 50 companies through more than 100 transactions. The company has a focus on technology and high value added companies and ensures an active involvement with the companies post-investment. Through its active network of High Net Worth investors, good relationship with institutional investors and as part of the Seneca Partners group of companies, Acceleris is well placed to deploy funds into early-stage through to development acquisition.
For more information contact:
Acceleris Capital Ltd
Tel: 0161 850 0156
About YProtech (YPT)
YProtech is a leading UK based Chemistry Services Contract Research Organisation based at the BioHub at Alderley Park, providing specialist chemistry services to the pharmaceutical, biotechnology and applied chemistry sectors. Operating on scales from milligrams to kilograms, YProtech support their customers’ synthesis needs, from virtual start ups to established firms. Addition of the high containment facility allows YProtech to expand their offering to a new area of specialist chemistry.
For more information contact:
Dr Stuart Brown
About Catapult Ventures / GM&C Life Sciences Fund
Managed by Catapult Ventures, the GM&C Life Sciences Fund is a seed and early stage venture capital fund targeting life sciences businesses located in the Greater Manchester and Cheshire & Warrington region.
The Fund is the result of a collaboration between Cheshire and Warrington Local Enterprise Partnership, Greater Manchester Combined Authority, Cheshire East Council, and Manchester Science Partnerships and can be invested in ‘Life Science’ businesses across the following sectors:
- Life Science contract research organisations (CRO)
- Healthcare technologies
- Medical devices
Full details can be found at: www.gmclifesciencesfund.com
About Catapult Ventures
Catapult Ventures is an independent venture capital fund manager that has been investing in UK businesses across a range of sectors since 2002. Catapult’s owners operate a number of discrete funds on behalf of public and private sector investors with a total of c. £130m under the owners’ management. Notable realisations (over 4x return) include Blackstar Amps (4.3x), R5 Pharmaceuticals (4.7x), Whelan Refining (4.7x), QEK (4.5x), Lumora (5x), Oxford Cryosystems (5.3x), Systems Integration (4.9x) and Accutronics (9.1x). Catapult also invested in Abzena (AIM: ABZA) which listed in 2014.