Deal round-up 01/05/02

Nomura leads Arakis financing

Nomura International has led a £16m second round financing package for Arakis, a UK-based pharmaceutical company. Joining Nomura in the financing round were 3i Group as well as Arakis' existing investors, the Merlin Biosciences Fund and MB Venture Capital Fund I.

The money raised will enable the company to fund four ongoing clinical development programmes through to Phase II, further develop its preclinical programmes and extend its in-house drug enhancement technologies.

Aberdeen exits Oxygen Comms

Aberdeen Murray Johnstone Private Equity has announced that the Aberdeen Development Capital fund has sold its 35 per cent holding in Oxygen Communications as part of a secondary MBO of the business. The exit has returned a capital gain in excess of £1.1m to ADC and an IRR of 40 per cent the stake was acquired in 1998.

Oxygen was created as a buy and build vehicle and subsequent acquisitions followed in 1999 of two complementary businesses, 911 Sales and Interfunction based in Burnley.