Posted On: March 23, 2010
Aquapharm Biodiscovery, a leading marine biotechnology company based at the European Centre for Marine Biotechnology in Oban, Scotland, today announces the close of a £4.2 million investment from existing investors Aescap Venture, Tate & Lyle Ventures, Highlands and Islands Enterprise and NESTA. Alongside the completion of the financing, Aquapharm has appointed the seasoned biotech entrepreneur Simon Best as CEO. Current CEO and founder Andrew Mearns Spragg will take up the role of Chief Technical Officer.
The additional finance will be used towards the further development and commercialisation of Aquapharm’s product portfolio produced from over 7,250 marine micro-organisms. Natural products from this unique source of new biological and chemical diversity are already being exploited commercially with major partners such as Croda Plc and Dr Reddy’s Laboratories in the personal care and pharmaceutical fields respectively. New collaborations in further applications such as nutrition are also in the pipeline.
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