The £595,492 raised by Liverpool ChiroChem will be used to produce a larger portfolio of LCC's novel, specialist chemical products that will be sold to pharmaceutical R&D companies worldwide.
Following the Thalidomide tragedy in the 1950s-60s, which ‘resulted in severe birth defects in thousands of children’, there has been the demand for 'chirally' pure chemicals for use in drugs.
Existing technologies to create such chemicals are very expensive and time-consuming. In fact, making use of incumbent technologies, there are upwards of 10 separate stages required to achieve the purity needed for research and development.
LCC are the only company whose methods create the exceptionally pure chemical form in just 3 steps, a much cheaper, faster solution. LCC are optimised to supply low volumes in short lead times and can retain more than a 70% gross margin on their products.
The company is headed up by Dr Jianjun Wu, CEO, and Jianliang Xiao, co-founder and Chairman. Dr Jianjun was the co-founder of Shanghai Bocchem in 2007, and managed its growth to profitability and an annual turnover of >£2 million within just 18 months. His chirality work was shortlisted for the top 3 of the Bionow Promising Technologist of the Year Award in 2014. Jianliang Xiao has had a fruitful history of R&D collaborations with Pfizer, AstraZeneca and GlaxoSmithKline. Jianliang received a prize for Process Chemistry Research from the Society of Chemistry and Industry in 2008.
This round was led by Deepbridge Advisers Ltd – a corporate and investment advisory business with proven operational, financial and management credentials.
Where are they now?
LCC has already achieved initial sales into three pharmaceutical companies: Charles River, Redx oncology and Redx Anti-Infectives, and two academic institutions: the University of Liverpool and Uppsala University.