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Peakdale Molecular Ltd. Announces GBP 1 Million Funding to Support Expansion and Growth



1/10/2008 6:49:19 AM

CHAPEL EN LE FRITH, England, January 9 /PRNewswire/ -- Peakdale Molecular Ltd a leading provider in specialist chemistry services to the pharmaceutical industry has announced today that they have successfully completed a GBP1m round of equity funding which will enable Peakdale to continue the expansion of its facilities in the UK to support its continued rapid growth.

The investors in this round were led by Solon Ventures LP, advised by Solon Ventures Ltd, and were supported by a number of existing investors.

Commenting on the deal, Peakdale's Commercial Director Ray Fisher said: "I am very grateful for being introduced to the team at Solon Ventures at such an important time in Peakdale's history. With our plans for aggressive growth, Solon's sector knowledge and desire to actively support such activities, together we appear to have the ingredients of a perfect synergy."

Adding to this, Solon Ventures Ltd Managing Director Angus Whiteley said: "We are delighted to be involved with Ray and his team at Peakdale in this exciting stage of its development. With its excellent reputation and high quality services, we believe Peakdale is very well placed to continue to support the pharmaceutical and biotech industries in the future. We look forward to playing an active role, based on our experience of the sector, in helping the company achieve its growth and international aspirations."

About Peakdale Molecular

Peakdale Molecular was founded in 1992. Today the Company's customers include the majority of the major global pharmaceutical companies and an increasing number of biotechnology companies. Its teams of chemists combine experience in pharmaceutical R&D and process development, medicinal chemistry, parallel synthesis and fine chemicals to deliver unique chemistry solutions to a range of drug discovery challenges.

The application of less commonly used chemistry, including high temperature/pressure reactions, proprietary heterocyclic chemistry and nucleoside synthesis, enables Peakdale's chemists to generate unique compounds for drug discovery. Peakdale operates in several distinct markets providing novel screening compounds, targeted screening libraries, catalogue intermediates, custom synthesis and contract research. Further information about the Company can be obtained at http://www.peakdale.com

About Solon Ventures LP

http://www.peakdale.comhttp://www.solonventures.com

CONTACT: Peakdale Molecular, Ray Fisher, Commercial Director, Peakdale
Molecular Ltd, Peakdale Science Park, Sheffield Road, Chapel-en-le-Frith,
High Peak, SK23 0PG, UK, Tel +44(0)1298-816700, Fax +44(0)1298-816701;
Angus Whiteley, Managing Director, Solon Ventures Ltd, 24 Old Bond Street,
London, W1S 4AW, UK, Tel +44(0)20-7535-4912, Fax +44(0)20-7493-9172


Read at BioSpace.com


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