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023 8022 1222 |
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BC Capital secures £500,000 funding for Biocontrol Limited Waterscan Secures Growth Funding
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PRESS RELEASE 29th Oct 2007 |
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BC Capital secures £500,000 funding for Biocontrol Limited to further the development of its successful phage therapy. |
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BC Capital is delighted to announce the completion of a £500,000 funding round in its client Biocontrol Limited. The funding came from a combination of existing shareholders, private investors and, most significantly, The Capital Fund, who invested £250,000. The transaction values Biocontrol at £2.5 million prior to completion of the current trial. |
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Biocontrol uses bacteriophage (phage) technology to destroy the superbug Pseudomonas aeruginosa. This bacterium is a major cause of hospital acquired infections and is highly resistant to antibiotics. It is also a particular concern to cystic fibrosis sufferers, among whom it is the leading cause of death. |
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Phages are viruses that target and destroy only specific bacteria, with no interest in other cells. Phage therapies were first used in the early 20th century, but the development of chemical antibiotics prevented their continued use in the west. They were used widely in the Eastern bloc, but documentation is weak and is unacceptable to Western regulators. |
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Biocontrol is the first company to have subjected a phage therapeutic to a fully regulated, modern clinical trial. The current Phase 1/2 clinical trial is now closing, following positive reports from an interim analysis. The company is currently initiating licensing contacts to take the product to wider trials and ultimately to market. Development continues apace, “We are delighted to have this investment round completed and to have an institutional investor on board” says Dr David Harper, Chief Scientific Officer of Biocontrol. “The process was complex and would not have happened without BC Capital’s support.” |
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BC Capital is a Southampton based corporate finance boutique. It covers the entire range of corporate finance activities, fund raising for early stage companies is a particular speciality. “Finding investment for biotech companies is challenging” says Patrick Benham-Crosswell, who led the BC Capital team. “However in all the financial wrangling it is important to remember that this funding will ultimately save lives.” |
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The Capital Fund is a £50 million venture capital fund that backs fast growing small and medium-sized companies in the Greater London area. Ed Simpson, the Investment Manager who led the investment in Biocontrol, commented: “Biocontrol is seeking to use its novel technologies to significantly improve the lives of patients worldwide. However because of the complexity of the business, it would have been easy for an investor to miss the opportunity. |
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Thanks to the team at Biocontrol and BC Capital we are pleased to have made this investment to support the business in its growth.” |
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PRESS RELEASE 29th Feb 2008
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Waterscan Secures Growth Funding
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Waterscan Limited is delighted to announce that it has concluded a £1.5m investment from private equity provider Kaye Enterprises which will be used to support the growth of the business.
Waterscan is a leading national provider of water audit and water cost reduction services to industrial and commercial customers including BT, Royal Mail,Tesco and Whitbread.
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Waterscan's CEO, Neil Pendle, said 'We have some very exciting plans for the future development of our business which our partnership with Kaye will facilitate. In addition to extending our customer reach, we are looking to broaden the range of services we can provide. Our rainwater and greywater recycling systems have proved very popular with some of our key clients - both because of the cost savings they bring and because of their environmental benefits'.
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Chris Young of Kaye Enterprises said 'Waterscan is a well established and run business which is ideally placed to service the increasing emphasis placed by UK businesses on water efficiency and cost. We are a long-term investor and very much look forward to working with Neil and his team to realise the full potential of Waterscan"
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Peter Whalley of BC Capital, financial advisors to Waterscan commented 'Waterscan is an inter-esting business at a key stage of its development. The market opportunities have never been better and I believe that Kaye spotted the potential; understand the sector well; and have a high regard for the management team'.
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Kaye were advised in relation to financial and commercial due diligence by Tenon and in relation to legal matters by Jones Day. Waterscan's advisors were BC Capital and a legal team led by Andrew Heathcock at Paris Smith & Randall LLP.
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Andrew Heathcock said "I feel sure Waterscan will go from strength to strength under Neil's direction supported by Kaye's long term and flexible funding approach and Paris Smith & Randall LLP have been very pleased to be involved".
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| Press release ends |
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