e-Therapeutics receives further backing from Octopus

Further investment from Octopus opens up opportunities for the drug development company


e-Therapeutics plc, the drug development and discovery company, has received £2m of investment.

The company, which discovers how medicines interact with cells in the body, has been backed by Octopus Ventures, the early-stage company investor. The investment will enable the e-Therapeutics to continue with the development of new drugs and will help the business to make acquisitions. It is the second time the company has received investment from Octopus, which originally invested in 2007. “We are pleased that Octopus is continuing to support our growth strategy. Since its initial investment in 2007, the invaluable access to advice, expertise and relevant industry provided by Octopus has helped to facilitate the rapid progress we have made in recent years,” said Malcolm Young, chief executive officer of e-Therapeutics. Shoosmiths and Wragge & Co were legal advisers to Octopus whereas WH Ireland and KPMG provided financial advice to e-Therapeutics and Dickenson-Dees were the company’s legal representatives. © Crimson Business Ltd. 2009

 

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