Yorkshire pharmaceuticals company raises £4.75m financing for development

A Yorkshire drug discovery company has announced that it has raised £4.75m in a new financing round to support its development of anticoagulants.

LUNAC Therapeutics, based in Leeds, has received the funding from Northern Powerhouse Investment Fund (NPIF) – Mercia Equity Finance, which is managed by Mercia and is part of the NPIF, the government’s Future Fund, and existing investors including Caribou Property Ltd and Epidarex Capital.

The company, which focuses on the development of anticoagulants, will use the funding to support its research.

Mervyn Turner, chair of LUNAC, commented: “LUNAC has demonstrated exceptional progress working closely with our world-leading academic founders and CRO partners.

“This new funding, alongside follow-on investment from our existing investor, demonstrates the clear medical need and value of our programme.

“LUNAC is in an excellent position to move our programme forward into preclinical development and prepare for the first clinical studies. We thank Caribou and Epidarex for their ongoing support and welcome Mercia as a new investor.”

Mark Wyatt, investment director with Mercia, said: “LUNAC is a great example of the world-leading academic research base that exists within the Yorkshire region that is attracting significant specialist investment.

“We are pleased to be able to support the business alongside others at this time,

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