Catapult Ventures, manager of the GM&C Life Sciences Fund, has made an investment in YProTech, a 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 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.
Tony Flinn who is a venture partner with Catapult Ventures, will join the board of YProTech as a non-executive director. Flinn 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, says: "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.”
Flinn says: "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 advisers were Manchester-based Acceleris Capital who supported the company through its oversubscribed fundraising.