Member Article

Cheshire sci-tech companies receive funding boost

Companies based at the science and innovation campus, Sci-Tech Daresbury, have received a strong financial fiilip with three firms securing investment worth £1.5 million and a further seven chosen to take part in the Technology Strategy Board Launchpad programme.

Perfectus Biomed Limited, Tomorrow’s Medicines and Arcis-Altos Group, which all operate in the biomedical sector, attracted approximimately £1.5 million backing from both public and private sector sources during a recent funding round.

Seven companies based on the site, including Arcis-Altos Group, were also recently chosen by the government’s Materials and Manufacturing Launchpad fund to take part in its programme, which is designed to accelerate the growth of companies located near the existing cluster at Sci-Tech Daresbury and the Heath.

Nineteen companies in the North West were chosen to take part in the scheme, funded by the UK’s innovation agency, the Technology Strategy Board, and run in partnership with the Science and Technology Facilities Council. The companies chosen demonstrated the most potential for innovation and growth within this sector and were awarded £1.6 million in funding, which needs to be match funded by private investment to allow them to complete their research and development projects.

John Downes, chief executive of Langtree and director of the Sci-Tech Daresbury joint venture board, said: “Companies based at Sci-Tech Daresbury are often operating at the cutting edge of industry, developing game-changing products and services which will have a significant impact on the way we live our day-to-day lives over the next decade or so.

“The three businesses on site which have most recently secured investment are operating in the fast-growing, rapidly-evolving biomedical sector and their innovative approach, coupled with a real depth of commercial awareness, creates a very attractive package for investors.”

Biomedical company Arcis-Altos Group, which developed Noroclear, an innovative disinfection product, received a £1 million funding boost earlier this month following the completion of a deal with EIS fund Calculus Capital. The company then received a second injection of finance of £100,000 from the Materials and Manufacturing Launchpad, which will be used for additional research and development.

Peter Whitehurst, CEO at Arcis-Altos Group, said: “We’re delighted to have achieved these two significant funding boosts. This investment demonstrates real confidence in the role that our technology could play in the molecular diagnostics sector. Arcis is clearly viewed as having winning technology to contribute to further growth in the global biomedical sector.”

Perfectus Biomed, which specialises in testing antimicrobial and anti-biofilm agents and devices, secured a £100,000 investment. It was provided evenly between the North West Fund for Biomedical which is managed by SPARK Impact and provides debt and equity finance to small and medium sized businesses based in, or relocating to, the North West, and venture capital firm, Midven.

Sci-Tech Daresbury business development manager, John Leake, said: “Public sector funding has an important role to play in ensuring that companies which have a truly pioneering and relevant offer are supported as they bring that technology or service to market.

“This is especially crucial for high-quality, high-tech SME companies of the sort that are based at Sci-Tech Daresbury and we’re delighted to see campus companies raising the investment they need to develop their product base and take their technology forward.”

Tomorrow’s Medicines Ltd, which has developed a novel interactive platform for patient recruitment and retention services for clinical trial sponsors and allows patients who wish to be treated with an investigative medicine to join clinical trials local to them, also enjoyed a successful funding round, raising over £250,000 from a group of three investors.

The firm won £100,500 from the North West Fund for Biomedical, managed by SPARK Impact, £100,500 from private investors and £50,000 from the Technology Strategy Board. The funding raised by the firm will be used to fully support its online platform, YourTreatmentChoices.com and services to patients, CROs and clinical trial sponsors, following successes with patients being linked to clinical trials in 82 countries.

Perfectus Biomed, will use the £100,000 funding secured jointly from The North West Fund for Biomedical, which is managed by SPARK Impact, and venture capital firm, Midven to expand the businesses’ research team and help them meet growing demand for testing. The funding will also help to support the business to implement a marketing strategy across the UK and Europe and invest in capital assets to improve its service and develop its management systems.

This was posted in Bdaily's Members' News section by Simon Malia .