NVM leads £3.2m round for Ridge Pharma

NVM invested £2.75m in the round, with the remaining balance provided by existing investors and angel backers.

The business was founded last year by Brendon McDonagh, formerly of ProStrakan and Consilient Health, and plans to launch its first commercially available product by the end of 2018.

NVM drew capital from its VCTs to support the transaction.

Company
Founded in 2017, Reading-headquartered Ridge Pharma is a pharmaceutical company focusing on the in-licensing and marketing of prescription medicines.

People
NVM Private Equity – Aaron Lawson-Clark (investment associate).
Ridge Pharma – Brendon McDonagh (CEO); Harry Stratford (non-executive chairperson).

Advisers
Equity – Muckle, Matthew Walsh (legal); Dow Schofield Watts, Jeff Gardner (financial due diligence); Candesic, Joe Taylor (commercial due diligence); Confidas People, Bruce Douglas (management due diligence); Philip Hare & Associates (tax).
Company – Gowling, Ian Piggin, Roisin Bergin (legal).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• United Kingdom
• NVM Private Equity
• Dow Schofield Watts