Midatech raises GBP10 million through funding round
One of the global leaders in nanomedicine design, synthesis and manufacturing, Midatech Ltd, announced the completion of the issuance of its new equity. The company's unique biocompatible gold-nanoparticles development had raised GBP10 million through the equity sale.
Leading the investment round is Ippon Capital SA, a private equity firm based out of Geneva, which committed GBP7.6 million. The other GBP2.4 million came from other investors.
The funds would be utilized to develop the company's core porftolio of product development programmes for diabetes and cancer. The goal is to make the products commercially availble through partnerships and licensing agreements.
According to Midatech CEO Dr. Jim Philips, "Ippon Capital is a new and ambitious investor in the healthcare sector and its investment along with the continuing support of our existing investor in the healthcare sector and its investment along with the continuing support of our existing investors provides a strong endorsement of our strategy and confirms the significant potential of our gold-nanoparticle technology. We will now look to rapidly progress the development and commercialisation, through partnering and licensing, of our technology for the treatment of diabetes and cancer and to work to commercialise new applications in medical diagnostics and imaging."