06 Nov 2011
ICON Corporate Finance secures Series B investment for IOTA NanoSolutions (“IOTA”).
IOTA is a developer of specialist nano-formulation technologies. It’s proprietary platform technology Contrasol ™ allow the transformation of insoluble materials into dry solid formats that form nanodispersions on contact with liquids.
IOTA’s solutions offer the opportunity to dramatically enhance the value of insoluble and poorly soluble active ingredients in a range of market sectors.
IOTA NanoSolutions Limited is actively exploiting its technologies and expertise in collaboration with multi-national companies including nutraceuticals, agrochemicals, global and speciality pharmaceuticals, foods, consumer/household products, cosmetics, inks and coatings.
New investor QIB joins incumbent investors Unilever Ventures, the funding will be used to further commercialise the technology and help IOTA exploit its technologies and expertise in collaboration with multi-national companies.
Alan Bristow, CEO of ICON who acted for IOTA on the fundraising added: “We are delighted to have worked with Andrew and his team to close this investment from new investors QIB UK alongside existing investors Unilever Ventures. Having proven the technology over hundreds of applications with global pharma and agrochemical companies, this funding from a strong partner will see the Company well positioned to benefit from exponential growth in both markets where the nano-enabled drug delivery market alone is estimated to be worth $220billion by 2015.”
The company originated from original research conducted at the University of Liverpool which was later commercialised within Unilever’s venture arm.