Zysis Ltd (United Kingdom) - Dec 2007

unquote
01 December 2007

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Catapult Venture Managers has invested £330,000 as part of a £700,000 first round of funding for pharmaceutical development company Zysis Ltd. The balance of the funding came through a research and development from the East Midlands Development Agency, along with a significant investment by the management team. Catapult was attracted to the investment opportunity due to the quality of the management team, as well as the company’s patented protected strategies. Furthermore, the fact that the drugs used have already been approved and their safety well established in many clinical studies means that the technology risk is greatly reduced in comparison with traditional drug discovery companies. The new funding will be used to take the company’s two lead projects through to phase 1 clinical trials and subsequent licensing to pharmaceutical industry partners.

Company

Zysis focuses on the development of new products based on existing drugs, intended to extend patent protection for drugs in their current use as well as exploring new clinical applications. The company was founded in 2005 and is based in Nottingham.

People

Jonathan Earl led the investment for Catapult.

Advisers

Company - Shoosmiths, Emma Clayden (Legal)Equity - Geldards, Debra Martin (Legal)

Sourced from: UK & Ireland unquote" 360 (Jan 2008)