Catapult Invest In nanoTherics
Posted on 30. Sep, 2010 by editor in Business News
Catapult Venture Managers, alongside Mercia Technology Seed Fund, have invested £1.1m into Staffordshire-based nanoTherics, a company at the cutting edge of the growing gene therapy replacement market.
Mercia has invested £200k alongside Catapult’s injection of £600k from its Advantage Enterprise and Innovation Fund, which is specifically targeted at businesses looking for up to £2m of equity funding to grow. The remaining investment comes from private investors.
nanoTherics, which is based in Stoke on Trent, operates in the life sciences sector developing and commercializing innovative technologies and products designed to offer faster, more efficient ways to improve research into genetic disorders.
Dr Linda Cammish, CEO of nanoTherics said: “Gene therapy, including stem cell therapy for example, has the potential to dramatically change the treatment of human disease.
“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.”
Ray Harris, investment director at Catapult added: “nanoTherics has exciting prospects and is a welcome addition to our investment portfolio that includes several businesses within the medical device and healthcare sector. The appointment of David George as chairman is seen by Catapult and Mercia as a key factor in the acceleration of growth for nanoTherics.”
Pictured – l-r: Neil Farrow, chief operating officer of nanoTherics, Ray Harris, director of Catapult, Dr Linda Cammish, CEO of nanoTherics, Dr Mark Payton, principal of Mercia Technology Seed Fund and John Dobson, non-executive director of nanoTherics
