Freeths Puts Positive Spin On Critical Pharmaceuticals

Press Release:

Freeths Puts Positive Spin On Critical Pharmaceuticals

Press Release
News Article February 2005

Nottingham-based biotech company Critical Pharmaceuticals Limited has completed its first round of funding with the help of Freeth Cartwright’s Corporate Finance team in Nottingham.

Critical Pharmaceuticals is a spin out company from the University of Nottingham and is developing a new manufacturing technique which should lead to different and more user friendly delivery methods for drugs that currently can only be effectively delivered by frequent injections or in hospital.

Investment in the company came from several sources, including Catapult Venture Managers Limited, Lachesis Fund and a number of private investors, requiring significant input and coordination from Freeth Cartwright to protect the Company’s interests in respect of a range of equity and loan stock finance.

Led by Corporate Finance Partner Philip Raven, the Freeth Cartwright team provided a complete package of advice in relation to all the issues that arose. Professor Steve Howdle, who leads the Critical Pharmaceuticals management team, explained: “I have been impressed throughout the transaction by the clear and concise advice we have received from the team at Freeth Cartwright. This became increasingly important to us as deadlines approached but the team maintained a thoroughly practical and commercial approach throughout. The personalities involved are absolutely the key to success and we are very grateful to Philip and the Corporate Finance Group as a whole.”

“We see huge potential for growth in the number of companies being created to commercialise the ideas produced through the high quality research that is carried out in universities in the East Midlands,” Philip Raven adds. “Because of our extensive experience dealing with spin out companies we are ideally placed to assist in the transition from pure academic research into viable commercial entities, and we always aim to build strong on-going relationships to support these clients as they grow and flourish in the marketplace.”

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