BGF invests £5m growth capital in pharmaceutical company

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.

“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.”