2nd October 2018
Ridge Pharma Limited – a Reading-based business which aims to become a new competitive force in UK pharmaceuticals – has secured £2.75m of growth capital from NVM Private Equity.
Dow Schofield Watts Transaction Services provided financial due diligence to NVM on the investment, which was part of a £3.2m funding round with the remainder coming from existing and private investors.
Founded in 2017 by Brendon McDonagh and Harry Stratford, Ridge Pharma is focused on the in-licensing and marketing of prescription medicines. It is set to commercialise its first product in late 2018, with further launches thereafter.
Brendon, the company’s CEO, has over 20 years’ experience in the industry and most recently was Country Manager for Consilient Health. He is passionate about challenging established prescription markets for the benefit of the NHS and patients.
Harry Stratford OBE, the Non-Executive Chairman, has over 40 years’ experience and was founder and CEO of both Shire Pharmaceuticals Plc and ProStrakan, which was acquired by Kyowa Hakko Kirin in 2011. He is also Non-Executive Chairman of Amryt Pharma.
Aaron Lawson-Clark of NVM said: “NVM is delighted to be backing Brendon and Harry in the development of a new competitive force in UK pharmaceuticals.”