Biocontrol (United Kingdom) - Oct 2007

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01 October 2007

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The Capital Fund, managed by YFM Venture Finance, has invested £250,000 as part of a £500,000 first institutional round of funding in bio-pharmaceutical company Biocontrol. The financing, which included contributions from existing angel investors, will be used to complete the phase two clinical trials for the company’s first product, as well as enable the further development of new products. The Capital Fund was introduced to the deal by corporate advisory firm BC Capital, whose chairman Dr Caroline Williams is also the chairman of Biocontrol, and was attracted to the company following positive initial results to the clinical trials, which suggest there may be a significant commercial market for the products. The Capital Fund intends to continue supporting the business and expects a second round of funding to be held in early 2008.

Company

London-based Biocontrol, established in 1997, is a specialist developer of clinical uses for bacteriophages, naturally occurring viruses that attack and destroy harmful bacteria. The phages attack only very specific bacteria, making them a far more efficient method of infection control than broad-spectrum antibiotics, which kill a wide range of bacteria including those that are helpful to the body and have therefore led to the development of drug-resistant ‘superbugs’. The current trial, which involves treating patients with long-term infections that traditional antibiotic treatments have failed to clear up, is the first fully controlled and approved clinical trial of the efficacy of a bacteriophage treatments to be carried out to modern standards anywhere in the world.

People

Ed Simpson led the transaction for The Capital Fund.

Advisers

Company - BC Capital, Caroline Williams (Corporate Finance)Company - Blake Lapthorn Tarlo Lyons, Edward Lee (Legal)Equity - Carbon Accountancy, (Financial Due Diligence)Equity - Gordons Solicitors, Jude Barter (Legal)

Sourced from: UK & Ireland unquote" 356 (Nov 2007)