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Mills & Reeve helps nanoTherics Limited secure GBP1million investment

National law firm Mills & Reeve has advised successful technology company, nanoTherics Limited, in relation to a new investment round of over GBP1 million. The investment was made by a syndicate of investors, including existing investor Mercia Technology Seed Fund, Advantage Enterprise & Innovation Fund (managed by Catapult Venture Managers) and a number of business angels.

Corporate finance solicitor Pippa Pearce led the Mills & Reeve team representing the highly innovative life sciences company, which develops and commercialises innovative magnetic nanoparticle based products in the gene therapy research market.
nanoTherics was spun out from Keele University in 2007 following 30 years of combined leading edge research into the use of magnetic nanoparticles for biomedical applications conducted at Keele University and the University of Florida. The company provides unique scientific devices and associated reagents designed to significantly improve uptake of biomaterials into cells, a process referred to as transfection, to greatly facilitate research into gene-related diseases and disorders.

The company’s mission is to become the leading supplier of intellectual property protected magnetic nanoparticle-based devices and consumables for transfection, providing superior performance products addressing a global market and underpinning the research and development of current and future drug and genetic screening and gene therapy programmes.

The investment took place on two tranches, with the first tranche completing in August 2010 and the second in January 2011. Dr Linda Cammish, CEO of nanoTherics said: “The funding has come at the appropriate time to allow nanoTherics to further develop its innovative technologies and products and improve research into genetic disease disorders, from Alzheimer’s to cancer. This investment represents a critical point in the company’s growth strategy and will enable us to place additional resources into the commercialism of our products.”
Dr Mark Payton, Fund Principal at Mercia, says: “We’re delighted to continue to support nanoTherics in the development of its scalable and disruptive products and look forward to the next exciting step in the company’s growth plan.” He went on to say: “Mills & Reeve’s venture capital team provided vital support in helping us complete this round – their experience and expertise in advising on sometimes complex syndicated investments in early stage and developing high-tech businesses was invaluable.”
Pippa Pearce was assisted on the transaction by corporate lawyers, Dona Ardeman and Danielle Gibson and technology solicitor Nicola Kenward. Pearce says: “We are pleased to have been able to assist this ambitious technology company raise the finance needed to ramp up commercialisation of its exciting products. We will follow their progress with interest.”
Advantage Enterprise & Innovation Fund were advised by West Midlands firm George Green, led by partner Guy Green and assisted by Philip Round.

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