The investment, which is the first equity investment made by the Midlands Engine Investment Fund (MEIF), will help the firm lead a regenerative medicine “revolution”.
Nottingham-based Locate Bio Ltd (formerly Locate Therapeutics Ltd) is the first firm to receive equity finance from the Midlands Engine Investment Fund (MEIF).
MEIF is providing £400k as part of a £2million investment that will help the firm to deliver an innovative targeted drug and stem cell delivery system to market.
The capital will also enable the company to add six more experts to its team and open the doors to international trade.
Pioneering specialist in regenerative medicine, Locate Bio has received the first equity investment from the MEIF Proof of Concept & Early Stage Fund.