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Home > Drug News > Funding Round for Cambridge Biotech Company Completed
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Funding Round for Cambridge Biotech Company Completed
(PRWEB) November 11, 2005 -- Cambridge-based biotech company, Activotec, has just completed a significant funding round to enable it to accelerate the growth of the company.
Activotec, which has its trading base in Cambridge UK and an R&D and production facility in Southampton, was founded in 2002 as a spin out from the University of Southampton. The Company modifies peptides and proteins to make them therapeutically useful and already has a solid customer base for its products.
The money was raised quickly through a syndicate mainly composed of private high net worth investors, was significantly oversubscribed and had to be scaled back.
Activotec chief executive, Chris Littlewood, commented: "The funds will be invested in further research and development while expanding our current business. This will assist us in our dual strategy of creating and licensing technology to drug developers while also quickly growing our custom peptide and synthesiser sales.
About Activotec
Activotec develops novel methods for the synthesis of peptides and proteins and provides innovative custom synthesis services, instrumentation and chemicals for chemical research and development.
Its mission is to establish Activotec as the partner of choice for peptide-based drug discovery.
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