Biotech company Plasticell has secured £250,000 from The Capital Fund. This follows an investment of £440,000 by existing shareholders and a £1.1 million grant from the Department for Business Enterprise and Regulatory Reform.

Biotech company Plasticell has secured £250,000 from The Capital Fund. This follows an investment of £440,000 by existing shareholders and a £1.1 million grant from the Department for Business Enterprise and Regulatory Reform (BERR).

Plasticell has developed and holds exclusive intellectual property rights for two complementary systems in the fields of stem cell research and regenerative medicine. The new funding will be used to develop its stem cell and drug screening products.

Established in 2002, The Capital Fund is a £50 million venture capital fund that backs fast-growing small and medium-sized companies in Greater London, and is the largest of the nine UK regional venture capital funds.

Ian Cameron, investment director at The Capital Fund, observes that the company has ‘developed novel intellectual property with significant commercial potential’.