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Macclesfield, UK – 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.