Specialty European Pharma receives £2.5 million loan

A venture capital-backed pharmaceutical marketing firm has raised debt of £2.5 million to fund global expansion.

Pharmaceutical marketing firm Specialty European Pharma (SEP) secured the loan from Clydesdale Bank.

London-based Specialty European Pharma will use the funding to expand distribution of new products and to help deliver a period of forecasted growth.

SEP was founded in 2006 after significant backing from venture capital firm Advent Venture Partners and its products treat diseases such as prostate cancer.

Patrick Banks, CEO of SEP says: ‘2012 looks to be an important year for SEP and securing this funding package will play an important part in helping the company to realise our ambitions to grow both our domestic and export markets.’

Mark Taylor, Clydesdale Bank’s director for growth finance says: ‘SEP is a strong example of a company with ambitious plans to grow their presence in a niche market.’
The company currently markets its products to France, Germany, Italy and in the UK.

Banks is optimistic about SEP’s potential for growth in the European market and the launch of a new cancer-treating drug. He adds: ‘One of the company’s new products is Mitem, a drug used to treat a range of cancers.

‘The investment will realise plans to introduce the product into several European markets.’

Hunter Ruthven

Hunter Ruthven

Hunter was the Editor for GrowthBusiness.co.uk from 2012 to 2014, before moving on to Caspian Media Ltd to be Editor of Real Business.

Related Topics

Early Stage Funding