Aquarius co-invests £2.6m in vaccine research

VENTURE capital firm Aquarius Equity Partners has co-invested £2.6m in anti-viral and vaccine research company Retroscreen Virology.

Manchester-based Aquarius led the fund raising, which was in conjunction with the IP Venture Fund, which is managed by the venture capital subsidiary of intellectual property commercialisation company IP Group.

London-based Retroscreen said the new capital will allow it to grow capacity to meet future demand, having received increased interest in its services from biotech and pharma companies.

“The capital will also allow the company to develop the experimental challenge study model beyond respiratory viruses into novel virus models, including enteric viruses such as norovirus,” it added.

Steve Sealey, chairman of Aquarius Equity Partners, said: “Having met Retroscreen earlier this year, I was immediately impressed with their management team.

“They are exactly what Aquarius looks for; committed managers with a well thought out business plan, looking for investment and hands on assistance to take them to the next stage of their business model.

“I see this as a tremendous opportunity and look forward to working with them and providing the support to help them realise the full potential of the company.”

John Lyon, chairman of Retroscreen Virology, said: “The team at Aquarius Equity Partners are committed backers of innovative technology and their investment in Retroscreen is a testament to the expertise and unique research services Retroscreen provides to its clients.

“The proceeds will be used to grow our business ensuring that Retroscreen remains at the forefront of virology research and development.”