Peakdale Molecular (United Kingdom) - Jan 2008

unquote
01 January 2008

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Solon Ventures has led a £1m round of expansion funding for Peakdale Molecular Ltd, a specialist provider of chemistry services to the pharmaceuticals industry, alongside contributions from the firm’s existing investors. Solon was attracted to the deal due to its interest in the sector, as well as the fact that the company has an impressive reputation within the industry. The new capital will be used to finance the on-going organic growth of the business, particularly focusing on an expansion of its facilities in the UK. Peakdale has previously received funding of £1.8m from Close Brothers in 2001 (11 December 2001, page 36).

Company

Peakdale offers a range of products and services to major international pharmaceutical and biotechnology clients that are designed to accelerate their drug discovery initiatives. The company operates in several distinct markets, providing novel screening compounds, targeted screening libraries, catalogue intermediaries, custom synthesis and contract research. Peakdale was established in 1992 and is based in Chapel-en-le-Frith.

People

Angus Whiteley led the investment for Solon and will join the Peakdale board.

Advisers

Company - Pannone & Partners, Phil Treanor (Legal)Equity - Jones & Day, John Phillips (Legal)

Sourced from: UK & Ireland unquote" 361 (Jan 2008)