The Alnwick-based company – which was founded in 2016 by Professor Ian Shott, CEO, and Paul Ryan, CFO – has been spearheading the use of new intensive manufacturing technology processes to support the rapid development of pioneering drugs for the treatment of life-threatening illnesses, including cancer.
As a result, Arcinova has seen its customer base almost double to 125 in the past two years, generating revenue of almost £9m.
BGF will provide financial support as a long-term minority shareholder in the business.
Ian said that this was an exciting time for Arcinova.
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“We have a fantastic team, a world-class facility and strong market opportunity.
“We selected BGF because of [its] long-term approach to investing, and [its] ability to provide additional funding as we embark on a period of capital expenditure and international expansion.”
Barry Jackson of BGF, who co-led the deal, added: “Ian and Paul have the ambition and potential to build a modern, state-of-the-art business of significant scale.
“Given the longstanding history of the Alnwick site – which has been reorganised to drive the new business model since the acquisition – it is great to see the team powering up the business, expanding its footprint and securing a strong order book.
“We’re delighted to be backing Arcinova as its new minority investor.”
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