A University of Liverpool spin out company, Liverpool Chirochem (LCC), has secured £770,000 of external investment to support its international expansion plans.
LCC, which supplies specialist building blocks for pharmaceutical research and biotechnology, has attracted more than £500,000 equity investment from private business angels and venture capital companies in the UK to accelerate the company’s research and development processes in support of an ambitious business growth plan.
In addition to its UK venture capital investment, the company has also secured investment from China and is in the process of establishing a unique chemical analytics centre in the city of Taizhou, just outside Shanghai (known as “China’s Medical City”) following receipt of a grant worth over £200,000 under the Taizhou 113 Talent Program.
Liverpool Chirochem (LCC) was founded in 2014 by former PhD students Dr Jianjun Wu and Dr Paul Colbon, Senior Research Fellow Dr. Jiwu Ruan and Professor Jianliang Xiao all from the University’s Department of Chemistry.
The Liverpool IP team secured a patent application on the technology, which it has exclusively licensed to LCC to enable them to make their business a reality and has worked with LCC to support the exploitation of the technology.
Dr Wu said: “We are fortunate because of the supporting and entrepreneurial atmosphere of the University’s Chemistry Department and the business opportunities created by our strong Liverpool-China links. With these investments, which are critical for our R&D and commercialisation, it is now time to concentrate on the chemistry and business development.”
Paul Colbon added: “Liverpool IP have been strongly supportive throughout the process of the company’s formation and have passed on their experience and expertise whenever possible.”
Professor Xiao said: “This initial success is a very good example of how leading academic research in the Department of Chemistry can be commercialised, contributing to UK Plc and creating an impact.
“Whilst there is still a long way to go before LCC establishes itself as a leading player in the area of advanced manufacturing and healthcare technologies, the road for a bright future has been opened up.”