MBM Commercial recently assisted Maven Capital Partners with its £1.6m VCT investment in BioAscent Discovery Limited (BioAscent), a leading provider of integrated drug discovery services.
The investment will facilitate BioAscent’s growth through its unique offering of integrated drug discovery, and compound management services, as well as the Compound Cloud library of lead-like pharma compounds, from its state-of-the-art facility at BioCity, Scotland. This offering of expert compound management and integrated drug discovery services from one facility is a key differentiator and is expected to drive BioAscent’s growth.
Maven Capital Partners UK LLP is a lower-mid cap private equity house focused on the provision of growth capital and mezzanine finance to SMEs across the UK. It is one of the most active private equity fund managers in the country, managing over £415 million of asset for a variety of client funds, including Venture Capital Trusts, UK regional debt and equity funds, and Maven Investor Partners – a syndicate of institutional, family office and experienced investors. Investment Directors, Alan Robertson and David Milroy were key contacts at Maven on the BioAscent transaction.
David Milroy, Investment Director at Maven Capital Partners commented: “The MBM team, led by Stuart Hendry and Alexander Lamley, advised Maven on our most recent investment in BioAscent Discovery Limited. The MBM folks have a great understanding of the investment process from both the investor and company’s perspective and their responsive, commercial and pragmatic approach has, as ever, been invaluable in completing the investment in this exciting integrated drug discovery services business.”
Stuart Hendry, Senior Partner at MBM Commercial commented: “Maven’s VCT investment in BioAscent is a high profile life sciences deal and we were delighted to be appointed as the preferred legal firm with specialist expertise to assist Maven with this transaction. This investment promotes not only BioAscent’s exciting opportunity to scale-up its unique offering of integrated drug discovery and compound management services, it also highlights how supportive BioCity Group have been in the development of BioAscent and other exciting high growth life science companies, the world class bio-incubation facilities on offer from BioCity Group and the specialist expertise within Maven to do these deals.”
MBM Commercial advises on all aspects of venture capital funding with particular expertise in venture capital funds formation and technology and life sciences investment deals. The firm, from its offices in London and Edinburgh, regularly advises institutional investors and also high growth companies throughout the UK seeking venture capital funding to scale up. The firm also provides specialist US legal advice to venture-backed companies expanding into America and US investors and companies looking at UK opportunities.