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Legal experts play key role in completing deals

LAW firm Watson Burton has advised venture capital firm Northstar Ventures in its contribution to investments totalling £2.6m over the past four months.

LAW firm Watson Burton has advised venture capital firm Northstar Ventures in its contribution to investments totalling £2.6m over the past four months.

Despite the challenging economic climate, July to October saw the Newcastle firm’s nationally recognised corporate group advise Newcastle-based Northstar in completing key investments into SenseLogix, UroSens, Audacious and Odimax.

Smart building technology specialist SenseLogix has revealed plans to expand its operations following a second-round investment of £1m from Northstar, Beringea and the North West Fund for Energy and Environment.

Bioscience company UroSens Ltd has received £538,000 of funding to assist in developing a test to diagnose and monitor bladder cancer. With more than one million people living with the disease and over 140,000 new cases a year in Europe and the USA, the company will use the investment to develop a product that will increase the chances of diagnosis at an early stage and monitor on-going treatment.

Audacious is celebrating after securing funds totalling £325,000 from Northstar and private investors.

Formed by North East entrepreneurs Kevin Mann and Rachel Burns, the business specialises in the provision of tailored search engine software which enables end-users to filter results in line with their designated area of interest.

The final investment has seen social media intelligence company Odimax Ltd benefit from a £575,000 investment from Northstar and IP Group’s North East Technology Fund together with private investors.

The company provides a social media intelligence suite that enables marketing and PR agencies to monitor and respond to all social media activity. Watson Burton associate Paul Wigham led the team in advising Northstar on all four investments, drafting and negotiating the terms of agreements with the relevant parties.

He said: “These investments emphasise the entrepreneurial talent we have in the region. The commitment of investors such as Northstar in supporting successful high growth businesses is fantastic and we are pleased to be able to assist them in pushing forward innovative new organisations.”

Ian Richards, director of Northstar said: “We are delighted to have invested in these promising businesses and look forward to supporting them in their continued success and expansion. Paul and the team at Watson Burton have been a pleasure to work with on these investments, their high level commercial awareness and clear, practical advice added real value to the process.”

The commitment of investors such as Northstar supporting successful high growth businesses is fantastic

 

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