Member Profile
SECOND ROUND FUNDING FOR MGB BIOPHARMA
TRI Cap has participated in a second funding round for Glasgow-based Biotech company MGB Biopharma. The company secured £800,000 from existing investors TRI Cap, Archangel Informal
Investments and the Scottish Co-investment Fund.
The second tranche of funding was initiated in direct response to the company meeting the technology milestone of preclinical proof of concept for its lead compound MGB BP-3.
MGB Biopharma’s CEO, Dr Miroslav Ravic noted: “We have been able to demonstrate clear efficacy in the preclinical stage for the technology and achieved a great deal in a short time from starting work on this new class of antibiotic.”
TRI Cap chairman Robert Dick said: “MGB Biopharma is making notable progress in its trials and product development and our members were pleased to continue providing support.”
END
September 2011
Issued on behalf of TRI Cap by Eileen Prior, PR Consultant.
For further information contact Eileen Prior on 07802 180412, or email priorpr@btinternet.com
Visit www.tricapital.co.uk for more information.