RISINGSTARS II INVESTS IN REAXA LIMITED
10 December 2007
RisingStars Growth Fund II, the early stage technology fund managed by Enterprise Ventures, has completed an investment in Manchester-based Reaxa Limited to support the next stage of the company's commercial expansion programme.
The company is best known for its EnCat (TM) range of precious metal catalysts and the new funds raised will be targeted to expand commercial resources and bulk-scale production of the EnCat (polymer encapsulated catalyst) range, which has been trialed by over 250 customers in two years since the company was formed.
Precious metal catalysis drives the production process for nearly 30% of all new drugs. By combining cleaner, more cost-effective catalysis with reduced process waste and enhanced metal recovery and recycling, Reaxa's technologies deliver higher process yields, with lower costs and less environmental impact.
Reaxa's "easier, cleaner, faster" all-scale-catalyst and clean-up resin technologies are a twin-track strategy that serves the increasingly tough regulatory, environmental and cost agendas in drug development and commercial scale production.
The company's, CEO, Dr Pete Jackson, commented, "The funding from RSGF allows scale-up of our catalyst and scavenger products for use in much larger commercial pharma applications"
"We now have the support to complete the transition from a catalysis R&D company to a commercial scale operator focused on growth. Increased scale for Reaxa means higher volume process intensification for customers with significant cost and environmental impact benefits".