Aquapharm Bio – Discovery Ltd (Aquapharm), a leading UK marine biotechnology company developing, amongst other things, anti-infective drug candidates from marine natural products, is pleased to announce the completion this month of its latest round of financing.
The investment of £344000 by E-Synergy Ltd and the Scottish Enterprise Co-Investment Fund completed the £1.25 million package by adding to a recent earlier investment of £350000 (£175,000 each) by NESTA (the National Endowment for Science, Technology and the Arts) and Argyll & the Islands Enterprise (AIE), and thereby paving the way for a future equity investment of £253,400 and grants of up to £300000 from AIE.
Aquapharm was formed in 2000 by Dr Andrew Mearns Spragg & Dr Kathryn Fraser, and is one of the first UK marine biotechnology companies. This funding round has allowed it to expand into new bespoke laboratory facilities within the European Centre for Marine Biotechnology (ECMB), which is situated beside the sea near Oban in Argyll. The Company currently employs a team of 9 full-time staff and has recently strengthened the management team with the addition of three new non-executive directors.
Joseph Meaney | alfa
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