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SpheriTech Lands Angel Investment

NEW YORK (GenomeWeb News) – UK-based contract research and synthetic DNA firm SpheriTech said today that it has received an investment of an undisclosed sum from an anonymous angel investor.

The company is using the funds, which it said is in the six-figure range, to hire additional staff and to attract other investors and win government research grants or loans.

"For a company like ours to get off the ground, it's absolutely essential to secure government finance," SpheriTech CEO and Founder Don Wellings said in a statement.

The angel investor received a 20 percent stake in the company, which operates out of the Heath Business and Technical Park in Runcorn, Cheshire.

"The investment has allowed improvements including the redesign of the company's website and will play a key part in financing the development of SpheriTech's intellectual property – for example by allowing applications for new patents to be pursued more quickly," Wellings added.

The company holds patents covering peptide and DNA synthesis, biocatalysis, and cell culture technologies, and it provides custom peptide synthesis and large and small molecule purification services.

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