Liverpool based chemical intermediates company raises £1.5 million

The specialist Liverpool based chemical intermediates company, Liverpool Chirochem (LCC), has raised £1.5 million in equity finance to support growth plans and increase production capacity overseas.

This latest round of fund raising was led by Praetura Capital and the Northern Powerhouse Investment Fund (NPIF), and was supported by the long-standing investor Deepbridge Capital. Mike Fletcher, managing partner of Praetura will join the LCC board as a non-executive director with immediate effect.

The company, which was originally a spin-out from Liverpool University, is now an established presence in the pharma and drug discovery supply chain with the capability of producing pure chemical forms through its own patented technology.

From the funds raised in the latest round of financing, LCC will expand its UK based R&D and sales teams as well as increase production capacity through the construction of a new facility located on the China Medical City (CMC) National Science Park, in the city of Taizhou, Jiangsu Province.

“This latest funding round marks the beginning of the next stage of growth and progression for the Company,” said Dr Paul Colbon, CEO of LCC. “LCC’s continued investment into cutting-edge R&D has led to the successful development of an IP pipeline that can now be fully exploited by a world-leading production facility being developed in China. Deepbridge have supported the business from inception. Their continued support along with the backing of new investors in Praetura and NPIF will ensure the Company has everything it needs to be a leading supplier within the growing marketplace of specialist chemicals for drug discovery and development.”

“I have seen LCC make considerable progress over the past three years, from a start-up to a company already competing on a global scale with established customers and revenue streams,” added Dr Savvas Neophytou, head of Life Sciences at Deepbridge. “I’m greatly encouraged by their future plans and expansion in China, and I am looking forward to seeing what they can achieve in the coming year.”

“We are delighted to be supporting LCC, an exciting growth stage company led by a talented, passionate and entrepreneurially focused management team,” stated Mr Mike Fletcher, Managing Partner of Praetura. “The company’s proven operating model and proprietary technologies make it a potentially highly disruptive business, working in a transformative area of drug discovery. I look forward to working with Paul and the team and supporting the company in the follow-on fundraise later this year.”

The company intends to complete further fundraising later this year to expand its workforce further and build its product library. Prior to this latest funding round and since incorporation in 2015, LCC has raised £1.1 million private equity through VCs and Angel investors.