University of Nottingham
How was the deal introduced?
The deal was first brought to Mercia’s attention by Ian Wilding, who is an existing investor in Mercia’s EIS fund. Ian is the Chair of Locate.
What did the company plan to use the initial funds for?
The initial funding was used to continue critical development work on the core technology platform. This has seen the continued development of its lead orthobiologics product, and its current testing in GLP preclinical studies.
What progress has the company made since the first investment?
Following investment, the company has significantly strengthened the team, make excellent progress on its product development and is now able to start conversations with the wider orthobiologics market regarding potential partnerships
The Mercia Effect
What have we been able to do for this company as a result of our involvement?
Mercia has supported the team by working actively with them to identify key hiring needs, including the profile of a new CEO. We have also supported the business in exploring the potential commercial applications of their technology through introductions to potential blue-chip partners. The overall impact has been to elevate the strategic direction of the business and empower the management team to start to build a leading orthobiologics business.
“The transition from R&D to commercialisation for a life sciences business requires a funder with an eye for the commercial opportunity, a long term investment horizon and a desire to work with the business to achieve its goals – Mercia has proven to be an amazing partner on all fronts and we are looking forward to greater successes over the coming years as a result of their support.” Dr Ian Wilding, Locate Bio
Hear from Locate’s CEO John von Benecke