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Harper Macleod helps biotech start-up secure record seed funding

Harper Macleod's Corporate team has helped one of its start-up clients secure record seed financing after only four months in business.

Taragenyx, which specialises in orthopaedic and dental implant coatings to help patients heal faster with less pain, raised £1.3 million from investors.

The biotech firm is housed in Glasgow's Entrepreneurial-Spark incubator, and becomes the first E-Spark company to raise more than £1m in a seeding round.

Harper Macleod is the legal ambassador for E-Spark and provides advice to a number of growing businesses. The firm acted for Taragenyx in its discussions with investors Kelvin Capital and Scottish Enterprise as well as providing advice on intellectual property and finance.

Taragenyx CEO Iain McDougall praised the role played by Harper Macleod in raising one of Scotland's largest seed rounds.

He said: "We couldn't have done this without the fantastic support of the Harper Macleod team. They just got start-up culture, the pace at which we work, and helped us every step of the way. We are looking forward to continuing to work alongside such an awesome team of dedicated, talented and amazingly bright individuals."

Paula Skinner, Partner in Harper Macleod's Corporate team, said: "We are delighted to have helped Taragenyx secure such impressive backing from investors. The company is extremely ambitious and this just shows that there is funding out there for companies that can provide genuine innovation. Entrepreneurial-Spark is providing an essential platform for start-ups and we look forward to working with Taragenyx and other exciting new companies in the future."