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GEIF VENTURES ANNOUNCES A £100,000 CO-INVESTMENT IN NOVACTA BIOSYSTEMS Investment to Advance Drug Development and expand Biotransformation Services GEIF Ventures Early Growth Fund, a fund set up within NW Brown Group in April 2003 to co-invest alongside business angels has announced today that it has invested £100,000 into Novacta Biosystems, alongside investment from Great Eastern Investment Forum (GEIF) members, including Westgate Hall. Based in Norwich, UK Novacta is a research-based company developing novel anti-infective drugs and providing biotransformation services. Novacta's drug development activities are focused on natural products, small molecules produced by microorganisms, which are starting points for development of many of the drugs in widespread use today. These activities are complemented by the company's biotransformation services that target the pharmaceutical, chemicals, cosmetic, flavour and fragrances industries. At the heart of Novacta's technology platform is a 'toolbox' of approaches for harnessing the exquisite chemical selectivity of biological systems. These systems are used to develop efficient processes to synthetic targets and to manipulate the biosynthesis of natural products in order to alter activity, pharmacokinetics and other properties. "Infectious diseases account for 25% of the deaths worldwide," stated Dr Fiona Marston, Novacta's CEO, "and Novacta's drug development activities are focussed on combating this major health problem." Marston added, "There are many factors driving the need for new products, such as drug resistance and significant side effects of current therapies, and Novacta has the team, technology and commitment to address and overcome these factors." Max Bautin, who manages GEIF Ventures, added: "Novacta's biotransformation services income arises from the research team's leading edge expertise in this scientific area. This investment will allow Novacta's excellent management team to expand the services business, mitigating the difficulties of the current investment climate, and to continue its drug discovery programmes and novel biotransformation methods development. Novacta, GEIF's eighth investment over the last year, is a company with the potential for improving quality of life globally, and it is particularly rewarding for GEIFV to contribute its own capital, and help channel that of angel members, to its development." Cambridge office of Mills & Reeve acted as GEIFV's legal advisers on the transaction. Further enquiries: Max Bautin, GEIF Ventures Ltd; max.bautin@geifventures.co.uk Fiona Marston, Novacta Biosystems Limited; fiona.marston@novactabio.com; www.novactabio.com
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