UK: Mills & Reeve Advises On Financing Of Top Cambridge Biotech Company
Last Updated: 6 February 2003

Law firm, Mills & Reeve, has advised Biotica Technology Limited, a University of Cambridge spin-out, on the procurement of a $5 million series A round of financing, led by Biotechnology Value Fund (San Francisco, CA) with co-investor Nordic Biotech (Copenhagen).

Biotica focuses on the discovery of novel pharmaceuticals through the engineered biosynthesis of polyketides. The company has been collaborating with Pfizer in anti-bacterial research since 1997, and recently announced an expansion of this collaborative project. In addition to the Pfizer partnership, Biotica has collaborated with Dow AgroSciences. The proceeds from this round of financing will be used to advance Biotica’s proprietary discovery pipeline and will also allow the company to strengthen its research effort and expand its management team.

Commenting of the fund raising, Dr Simon Turner, Chief Executive, said "We are absolutely delighted to have attracted such high quality biotech investors. We look forward to working with them as we continue to build the company to exploit the unique and exciting discovery opportunites offered by our proprietary technology".

The Mills & Reeve team was led by corporate finance partner Claire Clarke, assisted by Vanessa Walton.

Claire Clarke commented: "Mills & Reeve is pleased to have worked with Biotica Technology to secure a significant amount of funding, especially in the current economic conditions. We are increasingly involved in the development of new technologies with biotech companies such as Biotica, and the continued interest of venture capitalists and other funders in the Cambridge area reflects the quality of technology and expertise that exists in the region."

Mills & Reeve’s corporate group consists of over 65 lawyers and has experience of all types of private equity deals including venture and development capital, management buy-outs, private placements, angel financings and other forms of private company finance. The firm has a highly rated 10-lawyer specialist IP technology team with particular emphasis on advising hi-tech and bio-tech industries in Silicon Fen and areas in the UK.

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