Geldards were instructed by Nottingham based Pharmaseal International Limited to act on its behalf in relation to a £500k investment from Mercia Fund Management and two angel investors.
The investment will allow Pharmaseal, led by Daljit Cheema, to develop new cloud software to help pharmaceutical companies to manage clinical trials more effectively and therefore bring new drugs to market quicker and at a lower cost. A prototype product is being developed, and the funding provides the company with the capital required to establish its first module – a trial management platform that allows clinical trial operators to manage and monitor their clinical trials in accordance with good clinical practice (GCP) regulatory standards.
Geldards advised Pharmaseal on all corporate aspects of the deal, negotiated the terms of the investment documentation with Mercia’s lawyers, provided strategic advice and support, assisted Pharmaseal during the due diligence process and successfully completed the investment within the required timescale.
Daljit Cheema, CEO at Pharmaseal said:
“Peter Francis at Geldards provided professional advice and support with a human touch to ensure the equity investment was completed on schedule to enable Pharmaseal to continue with the next phase of its development.”
“We are delighted to represent Pharmaseal on this deal and help them to secure this very important investment. We are now looking forward to seeing Pharmaseal’s growth in both the UK and internationally and working with Daljit and Pharmaseal again in the future.”