A company that has spent years working in cancer research has gone into administration with 12 job losses.
MNLPharma Limited, of Penrhyncoch, near Aberystwyth, specialised in applying modern science to herbal remedies.
It has also made nine people redundant at a research centre in Reading, Berkshire.
The firm's work has included discovering compounds in plants that have anti-viral and anti-cancer properties.
Administrators Price Waterhouse Coopers said it had been appointed "to manage its affairs, business and property as its agents".
In March, MNLPharma won a £1.5m grant over three years from the Department of Trade and Industry to carry out vaccination tests in partnership with a Cambridge company.
The company MNL was formed in 1999 as a spin-off from the Institute of Grassland and Environmental Research (IGER) in Aberystwyth.
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