BioAscent, which Nottingham’s BioCity has been helping spin out, has secured £1.6m funding from Maven Capital Partners.
The investment will facilitate BioAscent’s growth through its unique offering of integrated drug discovery, and compound management services, as well as the Compound Cloud library of lead-like pharma compounds, from its state-of-the-art facility at BioCity, Scotland. BioCity has been a major shareholder since BioAscent’s founding.
Glenn Crocker, CEO at BioCity Group, said: “This is a major milestone in the development of BioAscent, with the investment from Maven validating the successful development of the business over recent years.
“I am very pleased BioCity remains a major shareholder in the company and look forward to continuing to work with Maven and the management team to grow the business further.”