RISINGSTARS GROWTH FUND PROVIDES FURTHER FUNDING ROUND TO CHROMATIDE LIMITED
16 October 2008
The RisingStars Growth Fund has provided a further funding round to existing investee, Chromatide Limited.
The funding package includes investment from the Fund alongside further funding from Alliance Fund Managers (AFM) through its MSIF Liverpoool Seed Fund.
The investment will be used to grow the Company's Intellectual Property (IP) portfolio and to progress out licence partnership opportunities, enabling Chromatide's proprietary technologies to be brought to market. The Company, which received its first round of investment from RSGF in mid 2007, has successfully delivered on a range of technical and commercial value-enhancing milestones.
Chromatide is a provider of innovative polymer technologies designed to improve and enhance pharmaceutical and chemical production and processes. Chromatide's primary business is to develop and licence its IP to provide a range of technologies offering superior performance and cost savings to the pharmaceutical and chemical production industries.
Julian Viggars, EV's Head of Technology Investment, commented, "We are delighted to provide further funding to Chromatide and to continue to support the team through the next phase of growth and development, The progress the Company has made to date suggests that it has bright prospects and we look frward to working closely in the future".
Clare Hildred, Chromatide's Chief Executive Officer, commented, "We are very pleased that RSGF has made this additional investment. It provides further validation of the progress that Chromatide continues to make in developing and bringing to market our novel polymer technologies in a range of applications important to the pharmaceutical and chemical industries",
"The Chromatide team is using its extensive expertise to develop a range of exciting new technologies in the areas of polymer synthesis, biomolecule purification, chemical processes and instrument design",