Based in Oxford, Prosonix is a world leader in the commercialization of proprietary ultrasonic particle engineering and process chemistry technologies and solutions. Their core markets are pharmaceuticals, fine chemicals and minerals processing, where they provide ‘Complete Crystallization Control’ for customers’ products, processes and unit operations.

Prosonix had a proven existing business, and had licensed in some IP to develop a new product set for more effective delivery of inhaled medicines. After a competitive process FirstCapital was engaged to advise Prosonix to raise funds to develop this new technology, based on its track record and strong customer references.

FirstCapital worked with the company on its funding and exit strategy, ensuring that this was aligned with the key commercial milestones. We introduced the company to a target group of investors, and managed the roadshow to generate considerable interest from investors in Asia, Europe and North America.  Several termsheets were received, and FirstCapital supported the negotiations between the stakeholders. Once the preferred syndicate was selected FirstCapital managed the due diligence process, leading to a successful close of the financing round in November 2007.

www.prosonix.co.uk