Oxonica completes $6 million round

June 10, 2002 — British nanoparticle developer Oxonica Ltd. announced it has raised approximately $6 million in its first round of institutional financing.

VCF Partners, which represents Foresight Technology VCT and TriVest VCT, led the round. BASF Venture Capital GmbH, NextGen Partners LLC Enabling Technologies, Northern Venture Managers and Generics Asset Management Ltd of the Generics Group also participated.

Oxonica was spun out of the University of Oxford in 1999 and specializes in creation of nanoparticles. According to a company spokesman, the funds will be used for expansion, product commercialization, and sales and promotion. Oxonica is currently conducting field trials for products the areas of catalysis, medical diagnostics, health care and personal care.

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