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Ward Hadaway advises on investment in healthcare business

Ward Hadaway has advised on a seven-figure investment in a healthcare company pioneering new treatment for fungal infections.

Lawyers from the Corporate department at Ward Hadaway’s Manchester office provided legal advice to Catapult Ventures, manager of the GM&C Life Sciences Fund, on the Fund’s investment in Blueberry Therapeutics, which is based at Alderley Park.

The Fund led a total £3m investment in Blueberry Therapeutics with other backers including San Francisco-based InClin Investments and a number of private investors.

The investment will support progress of the company’s innovative treatment for onychomycosis (fungal nail infection) and tinea pedis (athlete’s foot), into clinical development, including human trials.

Melanie Yeomans, Corporate Partner at Ward Hadaway in Manchester, led the firm’s team advising the GM&C Life Sciences Fund.

Melanie said: “We are very pleased to have worked with the Fund to make this important new investment in a company operating at the cutting edge of its specialist field.

“Blueberry Therapeutics has some exciting plans for its treatments which address conditions that millions of people across the world suffer from.”

Gareth King, Investment Manager at the GM&C Life Science Fund, said: “We are very grateful to Melanie and the team for their guidance and support to ensure this investment was successfully concluded.

“We are excited about the prospects for Blueberry Therapeutics and look forward to working with Melanie on future investments.”

John Ridden, chief executive of Blueberry Therapeutics, said: “The investment, from dedicated life science funds in the UK and US, is a significant step in the growth of Blueberry and opens up a range of exciting opportunities in topical therapies.”

Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.

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