The investment was made together with The North West Fund for Biomedical, managed by SPARK Impact, who also invested a further £100,000.
The £5 million fund was created in December 2014 to make equity investments, typically between £50,000 and £500,000, in life science companies based at BioHub on the Alderley Park site, Cheshire.
Alderley Analytical provides bioanalytical services to support the development of small and large molecule therapeutics, generics and biomarkers in all stages of the drug development process, from discovery to post launch marketing (including bioavailability and bioequivalence studies).
Claire Brown, Investment manager of Alderley Park Ventures said; “This is our first investment from the fund and also the first round of investment for Alderley Analytical, (so we are talking about true seed funding). In just two short years, the company has been able to achieve GCP & GLP Accreditation and gain MHRA approval. In addition it has grown its analytical capability with state of the art technology while building a pipeline of clients and collaborators from across the world.”
“This sector has seen significant consolidation in recent years, leaving a gap for a flexible group that can offer high quality bioanalysis support together with outstanding customer service. Alderley Analytical is perfectly positioned to serve this niche.”
David Grimm, investment manager at SPARK Impact, which also has a base at the BioHub, said: “Alderley Analytical shows great promise and the team has a really solid background in pharmaceuticals making them ideally placed to exploit a gap in the market. We’re delighted to invest in the business and look forward to seeing it progress.”
The management team of Alderley Analytical comprises highly experienced individuals with a combined total of over 100 years in the industry and significant experience in Contract Research Organizations (performing Bioanalytical services) or in Large Pharma, managing external outsourcing of such contracts. Several contracts have already been secured with mid-size Pharma companies.