Geldards’ Nottingham based corporate team has successfully advised BioCity Group Limited on investments from Business Growth Fund and Blue Skies Investments. BioCity will use the money to invest in start-up and high potential growth businesses within the Life Sciences sector.
Founded in 2002 by the University of Nottingham and Nottingham Trent University, BioCity originated in a former BASF Pharma research facility in Nottingham city centre. Home to more than 200 pioneering Life Science and Healthcare companies, BioCity is an ambitious business incubator dedicated to helping small businesses tackle global health & environmental challenges. Not the typical business incubator, BioCity takes a holistic approach to business support. It offers an in-house accelerator programme, investment platform, flexible lab and office space, UK wide network of mentors and specialised equipment, all housed within the various BioCity business locations.
In 2012 BioCity acquired the MSD research facility in Newhouse near Glasgow to create Glasgow, BioCity. This was closely followed by a second site in Nottingham, MediCity, which is located on the Boots campus and is a collaboration with Wallgreens Boots Alliance. In 2016 the Newhouse site was further expanded to create Glasgow, MediCity. BioCity also operates at Alderley Park, in Cheshire and in Aberdeen.
The Geldards team was led by Associate Solicitor Peter Francis, and the team dealt with all aspects of the deal on behalf of BioCity, including negotiating the investment documents and providing strategic advice on the investment generally.
Peter Francis, said:
“We are thrilled to have advised BioCity in connection with the investment. This is a very exciting opportunity that will allow them to continue to invest in new and innovative life science businesses.
“We would like to thank BioCity for involving us in this deal and look forward to working with them again in the future.”
Paul Oliver, Chief Financial Officer of BioCity, commented:
“We have worked with Geldards for several years and we are pleased with the professional advice and support we received during this transaction.
“We would like to thank Peter and the team for their hard work.”
Dr Glenn Crocker MBE, Chairman of BioCity, said:
“Peter and the team at Geldards did a great job on this transaction. This investment marks a major milestone and will enable BioCity to significantly increase its funding of early stage life science companies which, when combined with the recently launched co-investment platform will hopefully help to support the successful development of even more businesses.”
For business advice from an expert, knowledgeable, approachable solicitor, please contact a member of our Corporate team.
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