UK - Tate & Lyle Ventures and Scottish Venture Fund acquire BioFilm

Tate & Lyle Ventures and Scottish Enterpriseт€™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 ТЃ3m in the business to allow it to supply the rapidly growing medical devices, lifestyle and pharmaceutical markets.