NVM Private Equity has invested £2.75m into Reading-based pharmaceutical company Ridge Pharma Limited. The balance of the £3.2m funding round was provided by existing investors and private individuals.
Corporate specialists at Muckle LLP, a Newcastle-based national law firm, advised NVM on the technical legal elements of the deal.
Ridge Pharma is an emerging UK pharmaceutical business set to commercialise their first product in late 2018, with further launches to follow.
Founded in 2017 by chief executive officer Brendon McDonagh and Non-Executive Chairman, Harry Stratford OBE, Ridge Pharma is focused on the in-licensing and marketing of prescription medicines.
Commenting on the deal, McDonagh said: “We are delighted to have NVM Private Equity as our partner in building a leading UK pharmaceutical company. From the outset they have shared and supported our ambition to build a sustainable business, with strong ethical principles, that delivers exceptional value to all our stakeholders, from patients to our employees.”
Aaron Lawson-Clark, investment associate of NVM Private Equity, added: “NVM is delighted to be backing Brendon and Harry in the development of a new competitive force in UK pharmaceuticals.
“We are backing a team with considerable experience and an excellent track record. Ridge have some exciting and disruptive plans and NVM looks forward to supporting the team as they drive towards developing a leading, ethical pharmaceutical business.”
Muckle LLP lawyers Matthew Walsh and Stephanie Brown advised on the deal.
On the deal, Walsh commented: “Aaron and NVM have demonstrated great belief in Harry and Brendon’s vision with this successful investment and, under their expert leadership, the future looks incredibly bright for this exciting business.”