17th March 2022

Cardiff Medicines Firm Secures £4.5M Investment

A Cardiff-headquartered innovation partner for medicines development has secured £4.5m of investment from BOOST&Co to expedite the development and launch of new therapeutics.

Established in 2011, CatSci develops economically and environmentally sustainable drug manufacturing processes that enable its customers to create affordable small molecule therapeutics to address critical public health challenges.

It employs almost 100 staff and achieved a turnover of more than £5.8m in 2021.

The £4.5m funding will be a continuation of CatSci’s £3m investment – which began in 2021 – while helping to refinance the company’s existing debt.

New equipment and a major extension to its 13,000 sq ft laboratories in Cardiff will support CatSci’s expansion of its capabilities in chemical and analytical development, material science, and product formulation, alongside GMP Analytical testing.

Shaw & Co advised CatSci on the deal, which will be used to fund strategic expansion of its workforce, laboratories, equipment and offerings.

Dr Ross Burn, chief executive of CatSci, said: “It was our pleasure to work with Shaw & Co to source significant growth capital from BOOST&Co to complete our 2022 investment plan.

“Expanding our chemistry facilities in Cardiff and establishing our GMP Analytical facility in London are pivotal steps of our journey to become a fully integrated CMC innovation partner that accelerates medicines development.”

Chris Mears, principal at BOOST&Co, added: “CatSci is a world-class and agile innovation partner in an increasingly vital sector.

“This investment will help fuel the growth plans in providing new state-of-the art laboratories and highly skilled job opportunities as well as continuing to enhance South Wales’ reputation as a hot-bed of innovation and expertise.”

Colin Burns, director at Shaw & Co, said: “We ran a competitive marketing process across a wide variety of traditional and alternative lenders to find CatSci the best possible deal which would provide them with a strong foundation for further growth.

“The deal demonstrates that there are certainly a number of viable financing options out there for any SME looking to fund their company’s future development and expansion.”