Warwick Effect Polymers Ltd (United Kingdom) - Oct 2007

The Mercia Technology Seed Fund has led an investment in polymer company Warwick Effect Polymer Ltd (WEP), raising its stake in the business to 14%. Existing investors including Midven, Seven Spires and Oxford Technology VCT also participated in this financing round. The capital will be used to reposition WEP into the speciality and biopolymer sector through the development of a platform for new pegylation technologies.

Company

WEP is a specialist producer of polymers for a range of industrial applications. The business was established in 2000 as a spinout from the chemistry department of Warwick University and is based on research conducted by Professor David Haddleton in the field of polymer chemistry. It has developed an innovative approach to the production of second-generation pegylation technologies, which have the potential to significantly increase the activity and improve the safety profile of medical therapeutics. The company is headquartered in the University of Warwick Science Park and currently employs 12 staff.

People

Dr Mark Payton led the deal for Mercia, which has appointed Dr Richard Palmer to the WEP board.

Advisers

Company - Gordons Solicitors, (Legal)Equity - Mills & Reeve Norwich, (Legal)

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• Early-stage
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• United Kingdom