Close Venture Capital Trust Management has invested £1.8m (€2.9m) in Peakdale Molecular, the UK pharmaceutical reserach company, from two of its venture capital trusts (VCTs).

The deal highlights the continued resilience of pharmaceutical related investments in the current slow-down, which has hit technology investing hard. Peakdale Molecular provides contract research for the pharmaceutical industry's early-stage drug discovery. Its customers include all the major firms in a rapidly consolidating industry, which has turned to outsourcing to increase efficiency.