Project Description

HMT LLP advised specialist pharmaceutical biotech company Biotherapy Services Ltd (“BTS”) on their Series A fundraising. Foresight VCT (“Foresight”) invested £3 million to support the growth of the business supplemented by further investment from existing and new private investors.

BTS is a clinical stage, Biopharmaceutical company developing and delivering novel autologous regenerative therapies, currently in clinical development for complex and chronic wounds such as diabetic foot ulcers and pressure sores.

The company has developed proprietary expertise and a unique clinically integrated GMP operational service model to provide their proprietary RAPID™ Biodynamic Haematogel supporting clinicians with an interest in wound care to have additional treatment options.

Foresight invested £3 million in BTS to support the business and accelerate growth.

HMT, led by James Thomas acted as lead advisors to BTS on the transaction which included assessing the strategic options for the shareholders and management, identifying suitable investment partners, negotiating detailed investment terms and project managing the deal to a successful completion.

Janet Hadfield, CEO of BTS commented:

“Regenerative biological therapies are at the vanguard of innovative clinical applications and we are delighted to have the Foresight Group as our strategic partners to assist us in the development of our product that we are hopeful may provide a new treatment option for patients, physicians and other healthcare professionals.

The experience and expertise of the HMT team led by James were essential elements to the conclusion of the investment into BTS from the Foresight Group.

BTS’ novel, innovative and ground-breaking proprietary technology required a deep understanding of the regenerative biological market and HMT not only were able to articulate a complex scientific proposition but were able to find the appropriate investor partner for the company.

The guidance that James provided was exemplary and his unflappable demeanour, attention to detail and strategic insights when dealing with complex situations, helped BTS successfully navigate and conclude its first major institutional fundraise.

We would thoroughly recommend HMT and James as a great choice for fundraising.”

Nick Mettyear, Investment Manager at Foresight commented:

“Diabetes is a large and growing problem that causes patient suffering and puts immense pressure on healthcare services both domestically and internationally. Foresight is excited to be working with Biotherapy Services and to support them through the next phase of the trials and regulatory authorisation processes to bring the RAPIDTM Haematogel product to market. James and HMT provided key support in getting this complex deal over the line.”

James Thomas commented:

“We are delighted to have advised Janet and the shareholders on this fundraise. BTS has developed the world’s first blood medicinal product and are pioneering tissue regeneration in complex and chronic wounds which offers a new treatment pathway for the complications arising from diabetes, the treatment of which costs the NHS more than 10% of its budget each year.”