New Funding Boost For Liverpool Chirochem Set To Drive Expansion
The corporate team at a national law firm have advised an international chemical technology firm in the North West on a £2m finance package designed to rapidly scale up its production capacity.
Irwin Mitchell’s corporate team, led by partner Vicky Zivkovic and Solicitor Gregory Mazgajczyk, advised Liverpool Chirochem (LCC) on this latest round of funding, led by NPIF-Maven Equity Finance.
Founded in 2014, LCC produces products that provide pharmaceutical companies with processes for the research and development of their own new products.
Originally investing in LCC in 2018 to support the firm in delivering proof of concept and establish operations in both the UK and China, NPIF-Maven Equity Finance has invested a further £1m.
Together with £1m from the government’s Future Fund, this new finance will be used by LCC to expand production, to better service its development and growing international customer base.
Expert Opinion“LCC is another business success story in the North West and we are delighted to have been able to advise them on this latest funding round.
“In just a few years, LLC has already seen its products used worldwide and this funding will add to the firm’s capabilities, as they look to expand following the challenges posed by the Covid-19 lockdowns. This sector will form a vital part of the UK’s future growth and we are proud to have provided our support as they take the next step in their plans for further expansion.”
Victoria Zivkovic - Partner
Paul Colbon, chief executive and co-founder of LCC, said: "2020 was an outstanding year for LCC despite the challenges and continuing disruption of Covid-19.
"LCC's stock of unique, diverse and high purity chemical compounds are expanding month-on-month. Securing these additional funds will enable the team to accelerate investment in capital equipment, continuing the scale up of our production capability, enabling LCC to take advantage of the new and growing customer opportunities."
Simon Robb, portfolio manager at Maven, added: "LCC is a global innovator creating specialist products that enable drug discovery and we're delighted to continue to support such a pioneering company operating in a vital sector of the science technology space.
"Today's transaction demonstrates our belief in how far the business has come and the future growth it can achieve.”