Warwick Effect Polymers secures new funding

Published: 13-Jun-2005

Specialist UK polymer company Warwick Effect Polymers (WEP) has completed its latest round of funding and has secured a further


Specialist UK polymer company Warwick Effect Polymers (WEP) has completed its latest round of funding and has secured a further £1.5m.

The capital will be used to expand the company's scientific capability and to support the commercialisation of its products and technology and to recruit further scientific staff.

'This is an exciting milestone for WEP and allows this spin-off company to establish itself of the global stage through its next stage of development,' said chief technical officer and founder David Haddleton.

WEP's patented technology in the area of Controlled Radical Polymerisation is licensed on an exclusive basis from the University of Warwick. It enables the company to nano-engineer novel polymers for use in a range of industries. At present it is focusing on the pharmaceutical sector, and has developed POLY PEG, an alternative route for the PEGylation of protein-based therapeutics.

'We are delighted to have secured this latest round of funding, which will enable us to drive forward the commercialisation of our technologies,' said ceo Fergal O'Brien. ' we are confident that this will lead ultimately to high value revenue streams through product development and licensing agreements.'

Lead investor in the latest funding round is Seven Spires Investments, which provided £1m; the remaining $500,000 comes from a syndicate including Midven, Oxford Technolovy VCTs and The Mercia Fund.

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