A fledgling company at The Heath Business and Technical Park in Runcorn is hoping for steady expansion after securing six-figure backing from a private investor.
SpheriTech, which was founded in June 2009, offers highly specialist consultancy and laboratory-based research and development services to customers in a range of sectors including chromatography, peptide synthesis, polymer synthesis and cell culture.
Launched as a one-man operation by founder and chief executive Don Wellings, the company has already used the new investment to employ a specialist member of staff, with a third team member due to join in early 2010. But the funds will also significantly enhance the business’s efforts to secure additional finance.
Don explained: “The investment has enabled me to strengthen the team at SpheriTech but also allows me to apply for government funding, such as through loans or research grants. For a company like ours to get off the ground, it’s absolutely essential to secure government finance.”
The six-figure investment has come from a financial backer who wishes to remain anonymous but who Don describes as a “business angel”. The investor has taken a 20% holding in SpheriTech.
Don added: “The investment has allowed improvements including the redesign of the company’s website and will play a key part in financing the development of SpheriTech’s intellectual property – for example by allowing applications for new patents to be pursued more quickly. Patent life is 20 years, so every year you take to commercialise a patent means a year’s less revenue.”
SpheriTech currently holds a portfolio of intellectual property covering a diverse range of technologies including peptide synthesis, DNA synthesis, biocatalysis and cell culture. As part of its work the company offers laboratory-based contract research and development, and provides custom synthesis of peptides and contract purification of any molecule, large or small.
Don Wellings’ founding of the company followed more than 30 years working in scientific roles for high-profile, blue-chip organisations. However, despite SpheriTech being a new resident of The Heath, Don has already been based at the business park for a number of years, through working for site residents such as Zeneca and Avecia. He explained: “For me The Heath was the obvious place to come because I know the people and get on with them very well. But you also get a great service here – it’s an ‘all-in’ facility. If I need anything it’s all here on site, whether that’s specialist services like glassblowing and site services or social amenities.
“The business park also facilitates interaction with other companies. There are numerous small businesses at The Heath that I now do business with. It enables me to access customers and services all in one place, which is vitally important to both SpheriTech and our customers.”
www.spheritech.com
About The Heath
The Heath Business and Technical Park in Runcorn is a phenomenal regeneration success story. Formed in 2000, its owner and operator, SOG Ltd, has transformed an ailing ICI chemicals headquarters site into a thriving independent business park.
Remarkably achieved without any public finance, The Heath now provides office and laboratory accommodation for more than 175 individual organisations, ranging from forensic science and IT specialists to website designers and government agencies. Over 1,900 people are employed at the site – more than in the heydays of ICI.
Residents have been attracted by first-class transport links and the 60-acre park’s impressive range of facilities including meeting rooms, restaurant, gym, shops and a purpose-built conference centre, incorporating a 120-seat lecture theatre. Companies can also buy in laboratory support services such as scientific glass blowing and precision engineering and the flexible licence arrangements mean they select and pay for only the services they require.
In recognition of SOG’s achievements, the company has been rewarded with several high-profile business awards and visits from many leading industrial and political figures, including former Prime Minister Tony Blair who encouraged SOG to replicate this regeneration model at other sites across the UK. A new Fusion initiative has been created to do just that.
For further information on The Heath, telephone 01928 515988 or visit www.theheath.com
