News funds to help university spin out grow team and operations
Liverpool ChiroChem, an international chemical technology business, has secured £2.25m.
LCC was founded in 2014 to accelerate the discovery and development of drugs by aiding pharmaceutical companies into research focussed on oncology and the central nervous system.
The business began within Liverpool University but now has two locations; its headquarters and R&D centre in Liverpool and an analytical centre and production laboratory in Taizhou, China.
Following the investment from Deepbridge, Praetura and the Northern Powerhouse Investment Fund through Maven, CEO and co-founder Paul Colbon will lead a programme of change across both locations, growing its team and output.
Colbon said: “I’m delighted that LCC’s long-term strategic investors are allowing us to ramp up the production and distribution of our novel chemical components,” he said.
“We have a world-class team in the UK and China that are working extremely well together, it’s a joy to witness.”
Savvas Neophytou, a Partner and Head of Life Sciences at Deepbridge Capital added: “Having partnered with LCC since 2014, we are pleased with the progress that the team continues to make with regards to the discovery and commercial production of novel chemistry.”