14/08/2007

Finance Wales and Biofusion partnership first investment

Finance Wales and AIM listed Biofusion have entered into their first partnership deal as part of a £2 million funding round for Cardiff-based Q Chip Ltd, a leading developer of microencapsulation solutions.


The deal involves Finance Wales and Biofusion investing a total of £250,000 into the life science company alongside existing shareholders E-Synergy and individual shareholders including Jon Moulton, Managing Partner of Alchemy Partners and Forum des Entrepreneurs, a high net worth group of angel investors chaired by Maxime Mitterand.

The participation of Finance Wales in the investment round signals its first deal as part of a partnership with Biofusion, the university IP commercialisation company that turns world class research into business.

Steve Smith, Director of Development Funding at Finance Wales, said: “Q Chip reflects Finance Wales’ commitment to investing in high growth, knowledge-based businesses and marks our first syndicated investment with Biofusion under our collaborative partnership. Q Chip displays all the key attributes that we look for – pioneering technology, strong IP and a talented management team with clear routes to market.”

David Baynes, Chief Executive of Biofusion, said: “This deal represents the first investment we have made with Finance Wales. It clearly demonstrates the value of our relationship and the prospects for future wealth creation opportunities for the Welsh economy.”