Investment catapulted into nanoTherics
Birmingham-based venture capitalists Catapult Venture Managers and Mercia Technology Seed Fund have ploughed a combined £800,000 into a £1.1m funding round for Staffordshire-based nanoTherics.
Catapult injected £600,000 into nanoTherics, which grows gene therapy replacement market.
Mercia has invested £200,000 from its Advantage Enterprise and Innovation Fund, which is targeted at businesses looking for up to £2m of equity funding to grow.
The remaining investment comes from private investors.
nanoTherics, which is based at the Guy Hilton Research Centre in Stoke-on-Trent, operates in the life sciences sector.
Ray Harris, investment director with Catapult, said: “nanoTherics was founded in 2007 and is a spin-out from Keele University. The company has exciting prospects and is a welcome addition to our investment portfolio that includes several businesses within the medical device and healthcare sector.
“There is currently a large and growing area of research looking at gene replacement therapies of which stem cell research is the most prominent.”
nanoTherics’ chief executive, Dr. Linda Cammish, said: “Gene therapy, including stem cell therapy for example, has the potential to dramatically change the treatment of human disease. A number of gene therapies already exist, particularly those used to treat leukaemia, but none without some disadvantages.
“This investment comes at a key point in the company growth strategy and will enable us to place additional resources into the commercialism of our products.”
