Liverpool ChiroChem, a pharmaceutical research and biotechnology company, has launched a crowdfunding initiative on SyndicateRoom to raise £550,000 for expansion and a new manufacturing process.
According to Insider Media, the company was founded in 2014 and has developed a manufacturing process to make pure chemicals in three steps (rather than the standard ten). This helps with cost and time efficiencies for the pharmaceutical R&D industries that rely on these type of chemicals. Deepbride Advisers is leading the new funding round.
Funds from the campaign will be used to produce a larger portfolio for the company and special chemical products that will be sold to pharmaceutical R&D specialists worldwide. It will also go towards production, sales, hiring, equipment, chemical ingredients, rental costs, and general overheads (accountancy fees, legal fees, non-executive fees and patent costs).
Dr. Paul Colbon, co-founder, COO, and director of Liverpool ChiroChem reportedly told the media outlet that the company is using SyndicateRoom in order to complete its first-round equity investment:
“The company’s plan has been carefully formulated over the last 18 months. Now that the investment is secured, we are putting the plan into action; we have already started to purchase the specialist laboratory equipment and hire PhD-trained chemists to carry out the chemical production of our novel products.
“The feedback I have received when promoting the company has been excellent, and we now have several customers lined up ready to purchase our products once our initial catalogue has been produced in a couple of months’ time.”
In return for the £550,000, Liverpool ChiroChem is offering 31% stake in the business. The campaign is set to close at the end of September.
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