Private equity firm Synova Capital has entered in to an investment deal with Charnwood Molecular.
Synova will support Charnwood to deliver a growth plan, helping to increase investment in Charnwood’s core capabilities within the innovative chemistry sector, while also expanding Charnwood’s service offering into other scientific disciplines.
Charnwood was founded in 1998 by university professors, Steve Allin (chief executive) and Phil Page as a provider of outsourced drug discovery services, supporting an international client base of pharmaceutical and biotech companies in developing novel drugs.
Synova is a growth investor business that works across the UK and Ireland.
Commenting on the investment Allin said: “We are extremely excited about what we can achieve in partnership with Synova. With Synova’s support we now have the resources to accelerate growth of our core service offering and to develop further specialist services to support our clients to develop innovative new treatments.”
Tim Ashlin, partner and head of healthcare at Synova commented: “Having tracked Charnwood’s progress for a number of years, we are delighted to announce this investment to fuel Charnwood’s ambitious growth plans. It’s exciting to be supporting a business that is focused on developing the next generation of cutting-edge pharmaceuticals, and to support the continued growth of the UK life sciences industry.”