Date: 2011-05-19
Type of information: Fundraising
Company: Q Chip (UK)
Investors: Limburg Ventures (The Netherlands) - Nedermaas Hightech Ventures (The Netherlands) - Disruptive Capital Finance (UK) - Finance Wales UK) - an “Angel” syndicate of highly experienced individual investors including Q Chip’s Executive Chairman and biotech entrepreneur Ken Powell, British venture capitalist Jon Moulton and industrial entrepreneur Sir Harry Solomon
Amount: $6 million (£3.6 million - €4.2 million)
Funding type: Series C financing round
Planned used: Q Chip’s innovative bio-encapsulation and drug delivery platform enables the development of long acting injectable therapeutics with tailored sustained-release profiles and improved administration. It offers the potential for pharmaceutical companies to extend their product life cycles and find the best ways to deliver novel complex bio-therapeutics.
Others: Q Chip Limited, an emerging bio-pharmaceutical company developing innovative sustained-release drug formulations for cancer and other diseases, has completed its $6 million Series C financing round (the first close was in September 2010). The second close financing was led by Dutch investors Limburg Ventures and Nedermaas Hightech Ventures. They were joined by existing shareholders Disruptive Capital Finance, Finance Wales and an “Angel” syndicate of highly experienced individual investors including Q Chip’s Executive Chairman and biotech entrepreneur Ken Powell, British venture capitalist Jon Moulton and industrial entrepreneur Sir Harry Solomon.
Therapeutic area: Cancer - Oncology
