Pharmatech set to ‘take off’ with funding boost

A Yorkshire pharmaceutical technology company is breathing new life into drug delivery after securing six-figure backing to scale its operations and meet growing demand.

Bradford-based CrystecPharma has secured a loan from NPIF II – Mercia Debt Finance, managed by Mercia Business Loans as part of the Northern Powerhouse Investment Fund II (NPIF II).

The funding follows a series of contract wins and will support expansion ahead of a planned equity investment round.

Founded by University of Bradford academics Peter York, Paul Thorning and Qun Shao in 2008, CrystecPharma has developed technology that enables drug molecules to be stabilised as engineered particles.

Its approach can allow medicines to be delivered as powders through inhalers rather than injections, while some drugs can be stored at room temperature instead of requiring cold storage.

Alongside working with pharmaceutical companies, CrystecPharma is developing its own inhaled medicines, including treatments targeting heavy bleeding and urge incontinence.

The business increased revenue by almost 80 per cent in 2025 and expects a further 50 per cent rise this year.

Having moved from the University of Bradford to Listerhills Science Park earlier this year, CrystecPharma currently employs 15 people and expects to create four jobs in the coming months.

The funding will help the company increase capacity as Paul and Qun move from their academic roles to focus exclusively on its next phase of growth.

Paul, who previously worked in Tanzania, where he led health and community services in one of the world’s largest refugee programmes, said: “Our technology can transform the delivery and performance of medicines. 

“Dry powder inhalers can be a real gamechanger, making it easy for patients to take their medication as and when required, and health workers to treat people outside of a clinical environment.

“In a refugee camp for example, the ability to treat post-partum haemorrhage – a leading cause of maternal deaths – with an inhaler or to store medicines without a refrigerator could save numerous lives.

“There are also many applications in women’s health, an area which remains underserved by our industry. 

“Demand for CrystecPharma’s services has surged and the business has entered a period of strong growth. 

“The funding will enable us to scale up and pursue our plans to raise strategic investment in the year ahead.”

Andy Clough, of Mercia Business Loans, added: “CrystecPharma solves some real challenges for clients, particularly those with newer, biotech-based drugs which have more fragile molecules that are harder to stabilise. 

“After years refining its technology and building the client base, the business is really taking off. 

“We are pleased to support its next phase of growth and believe it has potential to become a global leader in its field.”

Phil Dibbs, of Hawkmoor Associates, provided fundraising advice to the company. 

He added: “CrystecPharma is an amazing business with huge potential. 

“I am delighted to have helped the team to raise funds to achieve their growth ambitions.”

The £660 million NPIF II fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Sarah Newbould, senior investment manager at British Business Bank, added: “CrystecPharma is a strong example of the kind of innovative, high-growth business that can strengthen the UK’s life sciences capabilities while bringing new technology to the market. 

“It’s great to see NPIF II continuing to invest in businesses like CrystecPharma, whose work reflects the ambition of the Government’s Industrial Strategy to build globally competitive industries and drive growth across the region.”

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