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Ward Hadaway advises on multi-million pound healthcare investment

The Corporate team at Ward Hadaway in Manchester has advised on a multi-million pound investment in the healthcare sector.

The corporate solicitors provided legal advice to Catapult Ventures, managers of the GM&C Life Sciences Fund, on its contribution to a total of £2.6m funding to life sciences company Cytox.

Cytox, which has offices at Alderley Park in Cheshire and Oxford Science Park, has developed a genetic prognostic test that aims to predict the risk of someone developing Alzheimer’s Disease years before the first signs become apparent.

The tests are based on work by academics at the University of Birmingham and University College London.

The investment will enable Cytox to launch this genetic testing platform and services to pharmaceutical and biotechnology companies developing the next generation of dementia drugs.

The money will also be used to validate and launch a version of its Alzheimer’s Disease test as a service to US regulatory standards and to expand the technology to include differential diagnosis and prognosis of dementia.

Melanie Yeomans

Melanie Yeomans

Melanie Yeomans (pictured), Partner in the Corporate team, led Ward Hadaway’s team advising Catapult Ventures on the investment.

Melanie said: “We are delighted to have assisted Catapult Ventures on this investment.

“Cytox’s work is at the cutting edge of development in the testing for Alzheimer’s, which is such a devastating and prevalent disease.

“It is a privilege to be involved in a deal which has the potential to impact patients’ lives in such a positive way.”

Gareth King, Life Science Partner at Catapult Ventures said: “We are grateful to Melanie and the team at Ward Hadaway for their advice on this important investment in a very exciting company which has a compelling offering in the sector.”

Other investors who contributed to the £2.6m funding included Perivoli Innovations, the Rainbow Seed Fund, the University of Oxford and private investors.

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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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