Type of information: Financing round
Company: Locate Bio (UK)
Investors: Mercia Technologies (UK)
Amount: £ 0.5 million
Funding type: financing round
- 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.
- • On October 16, 2018, Mercia 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