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Q Chip completes major investment round

Q Chip, the biotech company originally founded at the Cardiff Medicentre, has announced that is has completed a $6 million funding round.

Q Chip Ltd is developing sustained release injectable depot formulations. Q Chip’s proprietary encapsulation technology platform Q-Sphera represents a paradigm shift in bioencapsulation technology for the production of drug loaded microspheres.

$6m to expand drug formulation portfolio and establish European manufacturing facility.


Commentary

Dr Mark Bowman, Director of Innovation at Cardiff Medicentre said "Given the very difficult market conditions, this is a very significant funding round for Q Chip."

He added "The company now has a stable financial base on which to continue its excellent commercial progress. I am very proud to be able to list Q Chip as one of our most successful graduate companies."

For all Cardiff Medicentre media enquiries, please contact:

Carina Phillips
T: 07815 058283
E:carinaphillips@ntlworld.com

Notes to editors

About Cardiff Medicentre

Cardiff Medicentre is a dedicated incubator for biotech and medtech startups. The facility is set in the grounds of the University of Wales Hospital and is a neighbour to Cardiff University’s School of Medicine.

Established in 1992, Cardiff Medicentre is a joint venture between Cardiff Council, Cardiff University, the Welsh Government and Cardiff & Vale University Health Board. It was the first incubator of its kind in the UK and now provides 32 units of high quality office and lab space accommodation ranging from 284 sq ft to 1,045 sq ft. Low-cost desk leasing facilities are also available to encourage entrepreneurs to enter the Cardiff Medicentre community while writing business plans and raising finance.

Tenants at Cardiff Medicentre benefit from specialist support in establishing and growing their businesses. Their aim, and the aim of the Cardiff Medicentre management team, is graduation – the process of tenant businesses outgrowing the incubation facilities and moving into their own follow-on space, or being acquired.

Examples of successful graduate companies

  • Q Chip Ltd (completed $6 million venture capital investment round in 2011)
  • Cardiff Bioanalytical Services Ltd (acquired by LGC Ltd in 2010)
  • Cardiff Research Consortium (acquired by Capita Group plc for £11.6 million in 2009)
  • BioDynamics Research Ltd (acquired by Quotient BioResearch Ltd in 2008)
  • TrichoTech Ltd (acquired by Concateno plc for £11.25 million in 2007)
  • OnExamination Ltd (acquired by BMJ Group in 2007)


 

Published on Thu, 19th May 2011

 
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