The Greater Manchester and Cheshire (GM&C) Life Sciences Fund has invested in Cheshire chemistry services company YProTech Ltd.
The firm will use its slice of the multi-million pound fund to commission a high-potency facility at its Alderley Park base, broadening its services and strengthening its sales and marketing capabilities.
The deal will see Tony Flinn, who is a venture partner with the fund’s manager Catapult Ventures, join the YProTech board as a non-executive director.
Tony, who founded chemistry services firm Onyx Scientific in 2000, said: "Chemistry services continue to grow strongly as the global pharmaceutical model changes to further outsource R&D.
"This is an area I know very well, and the new high-potency facility will enable YProTech to further expand its high-value, well-differentiated services."
He added: "I’m excited to be joining the board of YProTech at this key time in its growth."
YProTech was advised by Manchester-based investment firm Acceleris Capital during the transaction.
Tom Screen, the managing director of YProTech, commented: "I’m very pleased that Catapult Ventures recognised the value and growth potential of YProTech’s services and that Tony is joining the board with his extensive experience building a successful chemistry services business.
"I look forward to commissioning the new high-potency facility and growing YProTech to be a leader in high value chemistry services."
The GM&C Life Sciences Fund makes initial investments of between £50k and £3m to support life science companies across Greater Manchester and Cheshire.
Since launching in September 2015, the fund has raised more than £30m for the region’s life sciences businesses, but that figure is expected to rise to £45.
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