With a specialist team and funding to support technology businesses, the Development Bank of Wales is one of the top five technology investors in the UK according to the Beauhurst Report.
The deals:
ÎçÒ¹¾ç³¡ Biotech, £625,000
Based in Flintshire ÎçÒ¹¾ç³¡ Biotech has completed its largest funding round to date, which has raised £1.25m of equity finance including £625,000 from the Development Bank of Wales.
As cases of food allergy and allergy related hospitalisations continue to rise, ÎçÒ¹¾ç³¡â€™s core focus is to improve the diagnosis and management of allergies.
This is through the provision of a pharmaceutical grade Oral Food Challenge (OFC), the gold standard for the clinical testing of food allergy.
The investment has been drawn down from existing investors, management, Moulton Goodies, Development Bank of Wales and Acceleris Capital.
The capital raised will help ÎçÒ¹¾ç³¡ Biotech to achieve the regulatory approval for its manufacturing facility in Deeside.
Professor Ashley Woodcock, chairman of ÎçÒ¹¾ç³¡ Biotech said: “This investment is a significant step in the development of ÎçÒ¹¾ç³¡ Biotech’s business.
“A combination of seeking our own MHRA (Medicines and Healthcare products Regulatory Agency) approval and the recent FDA (Food and Drug Administration) approval of the first specific food allergy therapy set to launch in the US soon, creates ideal timing for ÎçÒ¹¾ç³¡ to become the only standardised and trusted OFC for all food allergy therapeutics.â€
For further information please visitwww.hyjliao.com
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