BioCity, which is home to more than 200 life science and healthcare companies, has received development capital from BGF and Blue Skies Investments.
Founded in 2002, the Nottingham-based business incubator helps small businesses tackle global health & environmental challenges.
Its newest investor BGF is the most active and influential investor in small and mid-sized businesses in the UK, with 拢2.5bn to support a range of growing companies.
The development of new companies is the focus of BioCity鈥檚 Venture Development team, which each year support hundreds of entrepreneurs to create robust and scalable businesses through its Accelerator Programmes and hands-on involvement in company formation.
The company also provides funding for the high-potential graduates of its Accelerator Programmes and for businesses based at the sites at which BioCity operates: Nottingham; Glasgow; and Alderley Park.
BioCity will use BGF and BSI鈥檚 funding to expand this activity, allowing it to develop聽more young life science companies in the UK.
鈥淲e鈥檙e delighted to welcome BGF as a partner to the BioCity group alongside BSI as we continue to expand our offering to the UK鈥檚 life science community,鈥� said Dr Glenn Crocker MBE, Chairman of BioCity.
This is BGF鈥檚 fourth life sciences investment since June 2018, having already invested in pharmaceutical research and development company Arcinova, protein analytics business Fluidic Analytics and remote diagnostics business genedrive.
鈥淲e鈥檙e excited to be making another investment in the UK鈥檚 thriving life sciences sector,鈥� said BGF investor Jonathan Earl.
鈥淏ioCity provides a unique platform for many high potential companies, giving them the support and facilities to grow and thrive. It鈥檚 also uniquely placed to invest in some of its resident companies, knowing the businesses and their management teams extremely well.
The investment was led for BGF by Jonathan Earl and Olly Cutting out of BGF鈥檚 East Midlands office.