£1M Funding Announced for UK Pharma Sector : Bermele has been advised with a £1 million capital-raising move by lawyers at the Birmingham office of Shakespeare Martineau in order to target acquisitions in the pharma and biotech sectors.
Bermele has become a cash shell on the Standard List and has begun trading on the London Stock Exchange. Bermele is a special purpose acquisition vehicle, formed to acquire commercial technologies in the life sciences, pharmaceutical and biotechnology sectors.
It is hoped that the move will allow the business to invest in innovative companies focusing on medical and technological advancements in the areas of diabetes, cancer, mental health and personalised medicines.
Bermele was advised on the finance raising process by Shakespeare Martineau’s corporate team, who provided guidance on all legal areas of the transaction, including technical contractual elements and corporate governance.
Keith Spedding, corporate partner at Shakespeare Martineau, who acted as lead adviser, said: “Bermele has shown the faith it has in the UK and international life sciences and biotechnology sectors. As one of the fastest-developing fields of innovation, these areas are an extremely attractive proposition for forward-thinking investors, such as Bermele.
“Against the uncertainty which pervades all areas of UK business, this finance raising operation is testament to the success of the both the UK and international markets. For smaller companies on the hunt for funding, seeing investors such as Bermele position itself as being open for business, should be a real vote of confidence.”
Toby Hayward, chairman of Bermele, said: “We have recognised that the pharmaceutical and biotechnology sectors are driven by a need for more effective new products and technologies to help in the diagnosis, treatment and prevention of a multitude of illnesses and conditions. It’s a fast-paced section of the market, with ground-breaking new developments being made on almost a daily basis.
“Undergoing this transaction will allow us to engage with, and support, a number of incredibly innovative businesses, aiding them on their growth trajectories.”
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