RISINGSTARS GROWTH FUND II PROVIDES FURTHER INVESTMENT TO CHROMATIDE LIMITED
25 April 2008
Chromatide, an existing RisingStars Growth Fund II investee, which provides specialised products and services to a broad spectrum of the chemical and pharmaceutical industries, has received follow-on investment from the Fund.
This additional investment has been made further to the company successfully delivering on a range of technical and commercial value enhancing achievements. It will be used to not only continue to grow the Company Intellectual Property Portfolio but also to build licensing partnerships to enable Chromatide proprietary technologies to be brought to market.
The Company is furthering its development of its Intellectual Property in the area of novel technologies for synthesis and purification of biomolecules which are being specifically designed to facilitate, and reduce costs, of processes in production of biomolecules in the biotechnology and pharmaceutical industries.
Clare Hildred, CEO, said, "We are delighted that the Fund has made this further investment. It is a validation of the significant progress that the team at Chromatide is making in developing our novel technologies and which are progressing closer to market. The Chromatide team has extensive expertise which we are continuing to use to develop additional new technologies in the areas of polymer synthesis, biomolecule purification, chemical processes and instrument design".
Mark Wyatt, Investment Director at Enterprise Ventures, said, "The technical and commercial progress Chromatide has made to progress development of their proprietary technologies and bring these closer to market has been impressive. We are delighted to be able to provide this follow-on support to the Company and look forward to our continued work with them to progress development of their Intellectual Property Portfolio still further"