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The Basel-based company SpiroChem successfully concluded a financing round and will use the new funds to invest in the further growth of its chemical products used in drug discovery. SpiroChem recently relocated from Zurich to Basel.
The fine chemicals company SpiroChem specializes in the production of new classes of molecules for use in drug discovery. The company intends to build on its successful development and invest in its further growth. Swiss and British investors participated in the financing round, according to a statement.
SpiroChem is a spin-off of the Federal Institute of Technology (ETH) in Zurich. Founded in 2011, it relocated to state-of-the-art facilities in the Rosental area of Basel this past September. Part of the proceeds from the funds raised will be invested in more modern equipment.
“This is an exciting time for SpiroChem as both the funds raised and relocation of the business provides the building blocks for us to significantly expand our operations as well as foster collaborations with existing and new customers and partners,” said CEO Thomas Fessard.
“We are delighted by the support our UK and Swiss investors have shown during this fundraise and their recognition of our strong progress and reputation as a partner of choice in the life sciences industry for outsourcing drug discovery research.”