Alderley Park, Cheshire, UK – 6 October 2016. Catapult Ventures, managers of the GM&C Life Sciences Fund, today announced an investment in YProTech Ltd, a specialist high value chemistry services company based in Alderley Park, Cheshire.
The investment will enable YProTech to commission a high-potency facility at Alderley Park, to extend its range of high value services and strengthen its sales and marketing capability. The investment builds on Catapult Ventures’ previous record of successfully investing in contract research organisations (CRO), having backed R5 Pharmaceuticals, which was bought by Aesica, and more recently, Food and Drug Analytical Services (FDAS), which was bought by Tentamus Group in April this year.
In addition, Tony Flinn who is a Venture Partner with Catapult Ventures, will join the board of YProTech as a non-executive director. Tony founded Onyx Scientific in 2000 to provide contract chemistry services and secured long term relationships with many of the world’s largest pharmaceutical companies. Onyx became one of the fastest growing UK technology companies before being acquired by IPCA Laboratories in 2011.
Tom Screen, Managing Director YProTech, said “I’m very pleased that Catapult Ventures recognised the value and growth potential of YProTech’s services and that Tony is joining the board with his extensive experience building a successful chemistry services business. I look forward to commissioning the new high-potency facility and growing YProTech to be a leader in high value chemistry services.”
Tony Flinn, Venture Partner with Catapult Ventures, said “Chemistry services continue to grow strongly as the global pharmaceutical model changes to further outsource R&D. This is an area I know very well, and the new high-potency facility will enable YProTech to further expand its high-value, well-differentiated services. I’m excited to be joining the board of YProTech at this key time in its growth.”
YProTech’s corporate finance advisors were Manchester-based Acceleris Capital who supported the company through its oversubscribed fundraising.
Contact: Gareth King, Life Science Partner
E: gareth@catapult-ventures.com
T: 01625 344300 M: 07720 051988
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Notes to Editors:
About GM&C Life Sciences Fund
Managed by Catapult Ventures, the GM&C Life Sciences Fund is a seed and early stage venture capital fund targeting life sciences businesses located in the Greater Manchester and Cheshire & Warrington region.
The Fund is the result of a collaboration between Cheshire and Warrington Local Enterprise Partnership, Greater Manchester Combined Authority, Cheshire East Council, and Manchester Science Partnerships and can be invested in ‘Life Science’ businesses across the following sectors:
• Pharmaceuticals
• Biotechnology
• Diagnostics
• Life Science contract research organisations (CRO)
• Healthcare technologies
• Medical devices
With contributions from both private and public sector partners, the size of the Fund, at launch, is around £31m. Full details can be found at: www.gmclifesciencesfund.com
About Catapult Ventures
Catapult Ventures is an independent venture capital fund manager that has been investing in UK businesses across a range of sectors since 2002. Catapult’s owners operate a number of discrete funds on behalf of public and private sector investors with a total of c. £130m under the owners’ management. Notable realisations (over 4x return) include Blackstar Amps (4.3x), R5 Pharmaceuticals (4.7x), Whelan Refining (4.7x), QEK (4.5x), Lumora (5x), Oxford Cryosystems (5.2x), Systems Integration (4.9x) and Accutronics (9.1x). Catapult also invested in Abzena (AIM: ABZA) which listed in 2014.
