Critical Pharmaceuticals secures seed investment

Published: 1-May-2005

Critical Pharmaceuticals, based at BioCity Nottingham, has received investment of


Critical Pharmaceuticals, based at BioCity Nottingham, has received investment of £750,000 from Catapult Venture Managers, The Lachesis Fund and a number of private investors.

cThe funding allows Critical Pharmaceuticals to use its one-step, solvent-free formulation technology to formulate target, protein-based, therapeutic molecules within biodegradable polymers for controlled released applications. The patented process aims to produce higher efficacy and more cost-effective drug delivery devices for the pharmaceutical industry.

'This investment allows us to significantly expand our r&d base, and thereby greatly accelerate the commercialisation of our technology' said ceo Steve Howdle.

Chairman of the board, Alan Raymond, added: 'our focus now is to deliver the company's vision and achieve results which satisfy our shareholders' and customers' expectations.'

Catapult Venture manages the East Midlands Regional Venture Capital Fund, which invests in developing and existing businesses, with potential for rapid growth. The Lachesis Fund is an early stage seed fund investing in new technologies arising from research undertaken at East Midlands Universities.

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