Sterix raises £8m
A syndicate of four firms has invested £8m in Sterix, a private UK biopharmaceutical company that focuses on the design and discovery of novel steroid derivatives and small molecule drugs that modulate steroid metabolism.
The investment group was led by Avlar BioVentures and also includes 3i, Johnson & Johnson Development Corporation and Quester Capital Management.
The investment will be used to expand existing research and development programmes and to take Sterix' second product, Oncomate, a steroid sulphatase inhibitor, into clinical development for the treatment of breast cancer.
British Biotech Firm raises £3m in first round
Iceni BioDiscovery, a developer of cell therapy, has raised £3m in first-round funding from Avlar BioVentures, the Novartis Venture Fund, and Prelude Trust. Financing will be used for research and development. The round was co-led by previous investors Avlar BioVentures and Prelude Trust.
Expeditus raises £1.5m
Expeditus, an interactive trading platform for courier firms, has raised £1.5m from the private equity firm Consulta. The company offers courier firms the opportunity to trade spare capacity across the industry over the Internet.
Expeditus estimates the same-day courier market in the UK is worth over £1bn a year, with up to 50% wastage as a result of a bike or van completing half of any journey without a package. The company’s system allows spare capacity to be traded over a secure network. The company takes a 10% commission on all transactions and settles net payment with both parties on a monthly basis, through its guaranteed payment system.
Mandoforms raises £1m in first round
Mandoforms, the intelligent forms software specialist for online data capture and processing, has raised £1m in first round funding. The lead investor is 3i and the money will be used to further develop and market its advanced online data capture and processing solutions. 3i also provided the company with seed funding in March 1998.
Sports.com announces new £9.3m funding round
One of Europe's leading Internet and mobile data provider of sports content, Sports.com, of today announced a further £9.3m in equity funding. The new money came from existing investors including Soros Private Equity Partners, SportsLine.com and IMG.
It is expected that the new funding will take the company through to profitability. Sports.com generates revenues through advertising, content distribution, and betting.
Sterix raises £8m