Investee Company – Peakdale Molecular Limited (UK)
Investee Company Business – Drug research company
Type of Financing – Expansion
Equity Providers – Close VCT Management’s
Equity Leader (Individual) – Will Fraser-Allen
Debt Providers – NA
Debt Type – NA
Debt Leader (Individual) – NA
Equity Amount – £1.8 million
Total Deal Value – £1.8 million
Other Advisors – Tavistock Communications
Comments – Derby-based Peakdale Molecular Limited, a contract research company which synthesises organic compounds for major pharmaceutical companies, has raised £1.8 million in expansion funding.
The deal was financed by Close VCT Management, part of Close Brothers Group Plc, the largest independent quoted merchant bank in the UK. Peakdale plans to use the capital to build eleven new laboratories, with the creation of 100 new jobs.
Founded in 1992, Peakdale was initially created to provide new compounds to the pharmaceutical and agrochemical industries. As the company began to be recognised by these industries, it expanded into undertaking custom synthesis work. Staff at Peakdale now synthesise many organic compounds on a glabal scale, as well as discovering improved methods of synthesis.