YProtech receives £400k funding boost
High value chemistry services company, YProtech, based at Alderley Park has secured £400,000 of funding.
YProtech (YPT) was founded in 2011. The core of the company's business relates to those operating in the pharmaceutical, biotechnology and applied chemistry sectors.Since its previous equity fundraising in October 2016, YPT has boosted revenues and reached profitability in early 2018. It now boasts a diverse customer base from the UK, Europe and the US.
Corporate finance house Acceleris Capital has completed the £400,000 round of fundraising, comprising £250,000 equity finance and further £150,000 of debt provided by NPIF – FW Capital Debt Finance.
The funds will be used to provide additional growth capital to advance further into the niche service offering in YPT's high-potency facilities, as well as to capitalise on the provision of medicinal chemistry expertise.
Dr Tony Flinn (pictured on the right), executive chairman of YPT, said: "The board and management team are delighted to secure the funds which will allow us to invest further in new services, strengthen the company's commercial and marketing resource, and drive further growth in a growing market.
"Customers are searching for flexible resource and added-value expertise which is where YProtech excels."
Simon Thorn, corporate finance director at Acceleris Capital, added: "We are delighted to secure this package of funding for YProtech, which will allow them to invest in further operational efficiencies and to secure further growth over the next period. The management team have delivered exceptional growth which has made securing these new funds possible and we look forward to continued success."
Gavin Cowling, senior investment executive at FW Capital, said: "I am delighted that FW Capital has been able to provide funding to support the growth of this exciting business, which has a good pipeline of work, a strong management team with a good mix of skills and excellent corporate finance support provided by Acceleris Capital."