Pharma firm receives £500,000 tonic to fuel growth

A pharma business is set to scale after securing investment to advance a new generation of liquid medicines designed to meet unmet patient needs.

Newquay-based Green Park Pharma has secured £500,000 in equity funding from British Business Bank’s South West Investment Fund.

Bosses say the funding will support the expansion of the business and its workforce, with plans to create ten roles over the next three years. 

The investment, via appointed fund manager The FSE Group, forms part of a £2.2 million pre-series A funding round, with the potential for a further £4.5 million to be unlocked in later stages.

Richard Reavley, Green Park Pharma chief executive, said: “Difficulty taking tablets is a common problem in paediatrics but extends to adults experiencing swallow impairment, including those suffering from serious conditions such as a stroke, dementia and some forms of cancer.

“Our liquid products are effective and stable at room temperature with a long shelf life, improving medication adherence, dosage accuracy and convenience for the NHS, patients and caregivers.

“We are thrilled to receive this investment, which will help us make a significant impact on the global pharmaceutical landscape.”

Green Park Pharma, which has already helped bring more than 40 products to market worldwide and is led by industry veterans, specialises in developing liquid formulations of existing medications that target the estimated 20 to 40 per cent of patients globally who struggle to swallow tablets. 

Anna Staevska, The FSE Group investment manager, added: “Green Park Pharma’s robust business model and patented technology present a unique opportunity.

“The secured funding positions the company well for rapid development and market penetration, and we look forward to working with them on this journey.”

The South West Investment Fund offers loans from £25,000 to £100,000, debt finance up to £2 million and equity investment up to £5 million.

Paul Jones, British Business Bank senior investment manager, added: “Green Park Pharma is an excellent example of an innovative, high-growth business that the South West Investment Fund was created to support.

“Their liquid-based medicines address a clear clinical need for alternative drug delivery and this investment reflects our commitment to increasing access to equity finance for ambitious businesses across the region.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →