
UK - Tate & Lyle Ventures and Scottish Venture Fund acquire BioFilm
Tate & Lyle Ventures and Scottish Enterprise’s Scottish Venture Fund have acquired BioFilm Ltd through a newly formed company, BioFilm Holdings Ltd. BioFilm is the only fully integrated manufacturer in Western Europe of dissolvable/edible films that carry active ingredients, designed for use in the nutraceutical and medical markets. The business is being acquired from Devro Plc for a nominal initial consideration plus a sum in respect of working capital with an agreement to make a payment to Devro upon a subsequent sale of the company. The investors plan to invest £3m in the business to allow it to supply the rapidly growing medical devices, lifestyle and pharmaceutical markets.
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