Funding
Warwick University spin-out Warwick Effect Polymers (WEP) has raised a further £1 million from new and existing investors to progress development and commercialisation of its PolyPEG and GlycoPol drug delivery technologies.
Together with income from its eight ongoing evaluation agreements with pharmaceutical and biotechnology companies, the new funds will be used to develop WEP’s technology platforms and secure further agreements, licences to its patents, and manufacturing contracts.
WEP was spun out in 2001 and has raised over £3 million in grants and investments. Its technology, in particular PolyPEG, is based on the work of David Haddleton in the field of functional polymer chemistry.
In this latest funding round, Catapult Venture Managers invested £600,000 alongside backing from Mercia Technology Seed Fund, Oxford Technology VCT, private investors and management.
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