Tuesday, August 11, 2020

Loughborough Contract Research Organisation receives significant investment

Synova Capital has completed a significant investment into Charnwood Molecular, the Contract Research Organisation providing medicinal and synthetic chemistry services to the global pharmaceutical, biotechnology and chemical industries.

The deal will provide Charnwood, which operates from research facilities in Loughborough and BioCity, Nottingham, with additional investment to support its continued development and growth.

Synova will support Charnwood to deliver an ambitious growth plan, built upon increasing investment in the Business’s core capabilities as a trusted partner in innovative chemistry, alongside expanding its service offering into complementary scientific disciplines.

Commenting on the investment, Steve Allin, founder and CEO of Charnwood, said: “We are extremely excited about what we can achieve in partnership with Synova. Synova supported our business over an extended period prior to their investment, helping us to develop a strategic plan that we are all committed to delivering.

“They were able to leverage their sector expertise and introduced the business to a number of leading industry figures who will help us to grow going forwards. With Synova’s support we now have the resources to accelerate growth of our core service offering and to develop further specialist services to support our clients to develop innovative new treatments.”

Tim Ashlin, Synova Partner and Head of Healthcare, commented: “Having tracked Charnwood’s progress for a number of years, we are delighted to announce this investment to fuel Charnwood’s ambitious growth plans.

“It’s exciting to be supporting a business that is focused on developing the next generation of cutting-edge pharmaceuticals, and to support the continued growth of the UK life sciences industry.”

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