BioCity gets investment to expand

Nottingham-based business incubator BioCity has secured investment.The move by BGF is its fourth life sciences investment in the last few months and has been made alongside Blue Skies Investments (BSI).Founded in 2002, BioCity is the UK’s largest life science incubation business, providing specialist workspace for growing life science companies, including access to high-end equipment, shared services and training, as well as business advice through its expert network.BioCity’s Venture Development team each year supports hundreds of entrepreneurs to create businesses through its Accelerator programmes and hands-on involvement in company formation.The company also provides funding for the high-potential graduates of its Accelerator programmes and for businesses based at the sites at which BioCity operates: Nottingham; Glasgow; and Alderley Park in Cheshire.BioCity will use BGF and BSI’s funding to expand this activity, allowing it to develop even more young life science companies in the UK.BioCity works with businesses from all areas of the life science industry, including cutting-edge therapeutics, medical devices, diagnostics, contract research, digital health and industrial and environmental biotechnology.The move is BGF’s fourth life sciences investment since June 2018, having already invested in pharmaceutical research and development company Arcinova, protein analytics business Fluidic Analytics and remote diagnostics business genedrive.The investment was led for BGF by Jonathan Earl and Olly Cutting out of BGF’s East Midlands office.The advisors to the transaction were:For BGF – Browne Jacobson (legal), Claritas (tax DD), James Davies (Financial DD)For Blue Skies – Howes Percival (legal)For BioCity – Geldards (legal)