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The Coalfields Enterprise Fund, the venture capital fund managed by Enterprise Ventures on behalf of Communities and Local Government, has completed an investment in Peckforton Pharmaceuticals Limited as part of a total funding package of £1.2 million to support the company's expansion plans.
18/02/2008
Peckforton is a speciality pharmaceutical business, focusing on niche hospital injectable products. The company has a range of products developed and selling into the NHS along with a substantial pipeline of products in registration.
The invesment, made by the Coalfields Enterprise Fund alongside the RisingStars Growth Fund, also managed by Enterprise Ventures, was part of a total funding package of £1.2 million and will support the further expansion of the business.
Dr Brian Dickson, Chairman of Peckforton and ex-Senior Vice President, Worldwide Clinical Development at Warner Lambert Parke Davis, said, "The investment team at Enterprise Ventures has consistently delivered positive results and we are excited with the growth prospects for the company".
Wayne Thomas, EV Investment Director for the Coalfields Enterprise Fund, said, "We are delighted to provide investment to the company and to co-invest alongside the RisingStars Growth Fund. The company has plans for expansion and we are looking forward to working with them and providing help and guidance to support their future growth".
Richard Bamford, Executive Chiarman at Enterprise Ventures, commented, "Enterprise Ventures is delighted to be able to provide further funding and expertise to Peckforton, which we believe has great potential in the UK hospital injectibles market, where value for money is key".