CatSci, a partner for medicines development, has secured £4.5 million of investment to expedite the development and launch of what it calls its life-changing therapeutics.
The company develops economically and environmentally sustainable drug manufacturing processes that enable its global pharmaceutical customers to create affordable small molecule therapeutics to address critical public health challenges, including antimicrobial resistance, cancer and mental health.
The £4.5 million funding will be a continuation of CatSci’s £3 million investment – started in 2021 – whilst helping to refinance the company’s existing debt. New equipment and a major extension to its laboratories in Cardiff will support CatSci’s expansion of its capabilities in chemical and analytical development, material science, and product formulation, alongside GMP Analytical testing.
Dr Ross Burn, Chief Executive Officer at CatSci, said: “It was our pleasure to work with Shaw & Co to source significant growth capital from BOOST&Co to complete our 2022 investment plan. Expanding our chemistry facilities in Cardiff and establishing our GMP Analytical facility in London are pivotal steps of our journey to become a fully integrated CMC (Chemistry, Manufacturing and Control) innovation partner that accelerates medicines development.”
Chris Mears, Principal at BOOST&Co, said: “CatSci is a world-class and agile innovation partner in an increasingly vital sector. This investment will help fuel the growth plans in providing new state-of-the art laboratories and highly skilled job opportunities as well as continuing to enhance South Wales’ reputation as a hot-bed of innovation and expertise.”
Colin Burns, Director at Shaw & Co, said: “We ran a competitive marketing process across a wide variety of traditional and alternative lenders to find CatSci the best possible deal which would provide them with a strong foundation for further growth. The deal demonstrates that there are certainly a number of viable financing options out there for any SME looking to fund their company’s future development and expansion.”