National business law firm, DWF, has advised Cyprotex, the drug testing specialist, as it has taken a £3 million loan to invest in its US facilities and drive growth, it has also made an open offer of a further £4 million of loan notes to its shareholders.
The AIM-quoted company, which has operations in the UK and the USA, has taken the £3 million loan from Trident Private Equity Fund III LP, a fund managed by Harwood Capital. Harwood Capital, through its managed fund Oryx International Growth Fund Limited, currently holds 61.2 million shares in Cyprotex, representing a 27.3 per cent stake.
Leading the deal was Frank Shephard, Head of DWF’s North West Corporate team, assisted by Lisa Stavropoulos, Associate.
Commenting on the deal, Frank said: “Cyprotex develops software used by large pharmaceutical groups to predict the effect of medication. This deal will enable the Company to make further investment in new technology, and alongside selective acquisitions, the Company will be able to enhance its customer service offering and increase operational capacity.”