Mercia Technologies announced that its Life Sciences direct investment, Locate Bio, has received an additional £2.0m of investment. Locate received £1.8m of direct investment from Mercia and the remaining from the Midlands Engine Investment Fund. Mercia’s direct equity stake is presently 21.6%.
Peter Dines, Mercia’s COO and Head of Life Sciences & Biosciences, commented: “Locate has continued to make important progress in developing its TAOS® and Intrastem™ technologies. These proprietary technologies have the potential to address multi-billion pound markets in the exciting and fast-growing areas of gene and cell therapy.”