Biotechnology group Oxford Biodynamics PLC (LON:OBD) has received a £9.75mln injection from a Chinese investor which will also act as its lead business development partner in the People’s Republic.
GL Capital Group, which has £1.1bn under management, will acquire a 5% stake in OBD – its first investment in Europe.
Asian focus
Christian Hoyer Millar, chief executive of the UK firm, said: "We identified Asia as a core focus for international expansion and this co-operation agreement will allow us to address the many opportunities that we see in this region.
“We have been impressed by the depth of scientific and commercial understanding GL have shown in our interactions to date, and we are convinced that they are the right strategic partner as we begin to engage with the important Chinese market.
“It is an honour for OBD that they have chosen to make us their first major European investment. The funds will be utilised to further drive the development of OBD's EpiSwitch technology globally."
The company’s EpiSwitch technology accelerates the drug discovery and development process as well as improving the success rate.