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Fundraisings and IPOs

Date: 2018-10-16

Type of information: Financing round

Company: Locate Bio (UK)

Investors: Mercia Technologies (UK)

Amount: £ 0.5 million

Funding type: financing round

Planned used:

  • The Locate Bio team has been working for over a decade on developing a novel drug delivery system (TAOS®) and associated gene editing technologies (IntraStem), with an initial focus on orthopaedic applications. Its lead product is a treatment for osteomyelitis, for which Locate has partnered with a major European medical device developer. In addition, it is developing a product to precisely control bone growth, a significant clinical problem with a $7.0 billion worldwide market. Mercia's investment will be used to further expand Locate's existing product portfolio as well as new product opportunities utilising its IntraStem technology.

Others:

  • • On October 16, 2018Mercia Technologies announced a new direct investment of £0.5million into Locate Bio. Locate is a specialist regenerative medicine and medical device company based in Nottingham. Following this initial investment Mercia holds a 6.0% equity stake in Locate. This direct investment follows on from an initial investment by Mercia's third-party managed funds.

Therapeutic area: Regenerative Medicine

Is general: Yes