Private Equity & Investment
Investment providing a push to a spin out company
Clyde Biosciences Limited (Clyde Bio) is a spin out company from the University of Glasgow which has developed technology in the field of developmental drug testing, giving unique insights into the working mechanisms and actions of drugs under development, with their product the “CellOPTIQ”, which provides pharmaceutical drug development companies full understanding of the effects of drug compounds on cardiac cells. In addition, Clyde Bio also works with producers of cardiac stem cells to help them improve the quality and consistency of their products.
Having successfully spun out of the University of Glasgow and started to achieve early market traction for its technology, Clyde Bio required to raise a significant sum of new external investment to support its further product commercialisation, execute its go to market strategy and build it’s key team.
Morisons’ High Growth Company & Investment Team advised Clyde Bio on its £2m venture capital Series A investment led by the specialist life sciences venture capital fund, Epidarex Capital, with co-investment from the Scottish Investment Bank and on-going support from existing shareholders IP Group plc and GU Holdings Ltd. The Morisons team helped the company to close the funding in just over a month from the initial agreement of investment terms.
Since completing the deal, Morisons has helped Clyde Bio take a lease of new specialist lab and office premises at BioCity, put in place a number of employment contracts for new key hires and has assisted Clyde in negotiating a series of new third party commercial arrangements, as the company continues its progress in taking CellOPTIQ to the exciting and growing international drug development and stem cell markets.< Back