Small Pharma raises £830,000 from angel investors

A firm which is developing a drug for patients experiencing severe depression using a derivative of horse tranquiliser ketamine has raised £830,000 from noted pharma sector investors and via an angel investing platform.

Small Pharma, a London-based pharmaceutical start-up, said the funds raised will be supplemented by a £140,000 grant from Innovate UK to support the development of a rapid-acting drug.

The funding round was led by Chris Torrance, co-founder of AIM-listed Horizon Discovery Group PLC(LON:HZD) and PhoreMost, with the Angel Co-Fund, pharma sector experts and investors Steve Harris, David Ebsworth and Peter Keen, and Secret Escapes co-founder, Tom Valentine, also participating.

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