San Francisco investors pump millions into Cardiff life sciences firm to help it go global
Tuesday 18th October 2016
Telegraph Hill Partners has made a huge investment into TrakCel which aims to triple its workforce by the end of 2017.
One of Wales' leading life sciences firms, TrakCel, has been boosted by a multi-million pound investment from the US as it looks to expand globally while tripling headcount.
The Cardiff-based firm, a leading provider of cellular orchestration technology to aid in the delivery of regenerative therapies, has successfully secured a multi-million dollar investment from San Francisco-based Telegraph Hill Partners (THP) to support its global growth activities.
The deal sees private equity firm THP taking a controlling equity stake in the business, which currently employs 35, but which is forecast to reach 100 by the end of 2017.
It will be recruiting for software and clinical analysts to manage a range of therapy deliveries in oncology, leukaemia and rare diseases.
It following a series of significant new contract wins in the USA and the opening of TrakCel's US office in Newport Beach California, allows the company to further enhance its technology platform and realise its ambitious global growth plans.
Chief executive of TrakCel, Ravi Nalliah, said: "We believe we have found the perfect strategic partners in Telegraph Hill Partners. We are very enthusiastic about the expertise and experience that they bring.
"The team, together with the financial support provided by this transaction, will allow TrakCel to accelerate the development of our full suite of cellular orchestration delivery technologies.
"Our cellular orchestration platform, allied to our growing partners, will provide our customers a powerful delivery platform to enable commercialisation of both current and next generation personalized therapies and novel treatments for many diseases."
Chairman of THP, Matt Mackowski said: "This growth investment in TrakCel is the result of our global search to identify and invest in companies positioned to become the leaders providing the infrastructure required to support commercially successful cell and gene therapies.
"Bringing decades of expertise in pharmaceutical supply chain and information technologies, TrakCel's team is in the process of scaling up the most advanced cell therapy management system in the field."
As a result of the investment Mr Mackowski, along with THP's managing director Tom Raffin - a Stanford University professor - and chartered financial analyst Rob Hart, have joined the board of TrakCel.
Richard Coppock, principal at RCA Corporate Advisors acted for TrakCel with specialist law firm Greenaway Scott providing legal services on the transaction.
Nigel Greenaway of Greenaway Scott, said: "It is exciting to continue be part of TrakCel's growth. We have supported the company from its inception and are delighted to continue working alongside them through this period of sustained growth and development.
"TrakCel is an excellent example of the development and growth of the life science sector here in Wales."