Reacta Biotech raises £1.3m from existing investors to secure manufacturing license.
The funding round was backed by Moulton Goodies, Development Bank of Wales, and Acceleris.
Share allotment filed at Companies House
Deeside-based biotechnology company that manufactures pharmaceutical-grade oral food challenge kits for allergy diagnostics.
Reacta Biotech has secured £1.3m in equity finance from existing backers including Moulton Goodies, the Development Bank of Wales, and Acceleris Capital. The fundraising was brokered by Acceleris Capital. The capital will primarily be used to secure Medicines and Healthcare products Regulatory Agency approval for the company manufacturing facility in Deeside. This accreditation will enable pharmaceutical grade manufacturing status and expand production for regulated markets.
From the founder
"This investment is a significant step in the development of Reacta Biotech’s business. A combination of seeking our own MHRA approval and the recent FDA approval of the first specific food allergy therapy set to launch in the US soon, creates ideal timing for Reacta to become the only standardised and trusted OFC for all food allergy therapeutics."
Ashley Woodcock
Chairman at Reacta Biotech
Investor perspective
"We are delighted to complete this transaction with the team at Reacta and the other existing shareholders. Reacta is on an upward curve and with the expected MHRA license, is in line to see significant expansion. This market has become increasingly apparent with the significant rise in global food allergy cases and the alarming increase in hospitalisations due to anaphylaxis. We are proud as a firm to work with such a leader in its field and a company that will make a huge difference to many peoples’ quality of life."
Simon Thorn
Managing Director, Acceleris Capital
Use of funds
- 01Build out infrastructure
- 02Scale operations
Investors
Categories
About the company
Reacta Biotech
Produces standardised diagnostic kits for clinical food allergy testing.