18th December 2014
TrakCel raises £750,000
Cell therapy business TrakCel has raised £750,000 through a rights issue.
The Bridgend-based group has secured the funding through a number of business angels and investors and it will be used to develop its technology platform.
TrakCel’s platform is used to safeguard patients being treated with regenerative therapies. It is working in collaboration with GSK to develop this and progress with its plans to grow within its market sector.
“TrakCel is striving to position itself at the forefront of successful cell therapy delivery through our unique proprietary logistics solution,” said TrakCel chief executive Kevin Smith.
“This investment endorses our belief in the company and will enable us to expand resources to accelerate development of this essential technology.”
Greenaway Scott advised TrakCel on the rights issue.
Nigel Greenaway from Greenaway Scott added: “It is always interesting to work with clients like TrakCel and exciting to be part of the journey. We have looked after TrakCel from spin-out and are delighted to be working along-side them again through this period of growth and development. TrakCel is also a good example of the development and growth of the life science sector in Wales.”