Cardiff Capital Region takes an equity stake in Pharmatelligence - GRAHAME GUILFORD GRAHAME GUILFORD
Summary
WalesOnline reports the investment gives the city region, made up of the ten local authorities of South East Wales, an undisclosed minority ownership stake in the company. Last year the region provided, also from the City Deal, loans with a combined value of £5.5m to Creo Medical and Zip World. “We have every confidence in Pharmatelligence’s ability to deliver and that this investment will help play a significant part in realising our CCR strategic ambition to become a regional centre of excellence in medical diagnostics.” Professor Craig Currie, founder and chief scientific officer of Pharmatelligence, said “We are delighted to have agreed this investment which illustrates the potential value of Livingstone. “It is also in line with our post-Covid-19 priorities for supporting and showing confidence in businesses with growth plans that can create sustainable employment within the region. “By supporting Zip World throughout these difficult times, the adventure tourism facilities will now be ready post pandemic and it will be able to play a significant part in attracting visitors to the region.” Last year it also provided £2m in debt to Chepstow based medical devices company Creo.