Geldards advise Finance Wales on further investment in Q Chip

Geldards have advised Finance Wales on a further investment in Cardiff based Q Chip, as part of a £3.6M funding round by a number of different investment funds and individuals.

Q Chip is an emerging bio-pharmaceutical company that develops innovative sustained-release drug formulations for cancer and other diseases.

Additional investment was raised by Q Chip to establish a sterile pharmaceutical production facility in the Netherlands as the company moves towards manufacturing and commercialisation of its products.

Q Chip plans to increase levels of production to support the preclinical development of its own Q-Leuprolide and Q-Octreotide depots, which are being developed for prostate cancer and acromegaly respectively.

Ken Powell, Executive Chairman of Q Chip said “The successful completion of this financing round in these challenging economic times demonstrates further investor confidence in Q Chip’s technology and the compelling advantages it offers to the biopharmaceutical industry”

Geldards has advised Finance Wales on several tranches of investment in Q Chip since 2009.

Geraint Tilsley, Partner in Geldards’ Cardiff based corporate team, who advised Finance Wales, said “We are delighted to see Q Chip progress thanks to continued funding from Finance Wales and its funding partners as it now moves to commercialise this existing technology”.