Generic pharmaceuticals business Neolab has received £2 million from venture capitalist Maven Capital Partners.

Generic medicine business Neolab has received £2 million from venture capitalist Maven Capital Partners.

Maven is investing on behalf of the government-backed Capital for Enterprise (CfE) fund.

Hampshire-based Neolab, which specialises in the licensing and marketing of generic pharmaceuticals, received corporate finance advice from Grant Thornton and legal representation from DWF on the transaction.

The CfE fund was launched last year to help small and medium-sized enterprises struggling to access finance as a result of the credit crunch. Maven is managing £30 milion of a £75 million pot.