NEWS&VIEWS 19


Successful £2.4m Funding Round Takes ScreenTape Pioneer to the Next Level


Lab901 Ltd, the Edinburgh-based developer and manufacturer of innovative automation systems for the life science industry, has successfully raised £2.4 million in equity funding. This latest vote of confidence comes from Lab901’s strong consortium of UK investors, comprising Archangel Informal Investment Ltd, Alliance Trust Equity Partners (ATEP), Scottish Enterprise SVF, Foresight 3 VCT plc and TriCapital Ltd.


Lab901 will use the cash injection to expand international sales of its ScreenTape®


laboratory


analysis platform and further develop its product range. This automated platform replaces manual analysis of bio-molecules (Proteins, DNA and RNA), giving faster results and enabling better decision making. It is now widely used for infectious disease testing, (e.g. screening for swine flu), in the molecular diagnostics market where it continues to deliver proven commercial benefits. Since launching in 2007, ScreenTape is now sold in more than 20 countries.


Building on this success, Lab901 also recently launched two new versions of ScreenTape for


Protein and RNA analysis, targeting the significant global market for Biomedical research in Pharmaceutical Companies, Universities and Research Institutes. These products are currently being sold direct throughout Europe, with global roll-out commencing 2010.


Commenting on the latest round of funding, Joel Fearnley, CEO and Co-Founder of Lab901, said: “Lab901 has an enviable track record with the successful development and comm - ercialisation of the innovative ScreenTape platform and our existing investors have provided the finance we need to support planned global sales growth.”


John Waddell, CEO of Archangel Informal Investments, added: “In challenging times, it is very encouraging that Archangel investors are continuing to support Scottish companies like Lab901 to help them grow into global businesses. This funding round reflects the dedication of the management team in meeting key milestones and its proven ability to succeed on the global stage.”


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GxP Consulting Plans Expansion


GxP Consulting, a provider of services to


the pharmaceutical and biopharmaceutical industries, has announced growth plans in the US and UK markets. Led by Managing Director Mark Stevens, the company is helping customers overcome issues such as budget cuts and regulatory demands by providing extended services in regulatory compliance, validation project man - agement, computer systems validation and Qualified Person (QP) services.


As part of this expansion, the company has announced a strategic new facility in Irvine, California and a move into a new larger purpose-built facility in Nottingham, UK , where a dedicated team of 40 consultants are based.


As an original Founder and Director of the company Mark has been responsible for the


successful delivery of projects within the biopharmaceutical, healthcare and food industries in a variety of business areas.


"This is an exciting time for GxP Consulting. We recently marked our ten year anniversary, which is a significant milestone for any business and the next step for us is to push forward with our expansion strategy across both the USA and UK. In the last 12 months, our plans have seen us move to new headquarters in Nottingham, launch a brand new client- centric website and extend our range of services. 2009 is a crucial year for the company as we look to build on our success over the last 12 months, extend our customer support throughout Europe and North America and continue to grow our portfolio of services."


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Industry Reports


1 in 4 companies are now loss making in the UK Scientific & Laboratory Equipment industry


1 in 4 companies in the UK Scientific & Laboratory Equipment industry is making a loss as the downturn continues to make life difficult. But how many of these 188 loss making companies have simply had a bad year and how many are burying their head in the sand is the subject of a new study.


David Pattison, author of a new market report into company performance in the market said, “Increasingly we are seeing companies making a loss for the first time in their history and I think they can rightly claim they are victims of difficult trading conditions. A quick refocus on profitability would ensure this an isolated occurrence – ‘the year the recession forced us into loss.”


However, market conditions are a flimsy excuse for a band of serial loss makers that are prevalent in the market. Pattison explained, “91 companies are making a loss for the second, even third year running. These companies are either blatantly undercutting the rest of the market to enhance or maintain market share or, more likely, have delayed making the painful decision more prudent companies have made recently. No one wants to trim costs, lay off staff, cancel dividend payments and the like but continuing on regardless is fast becoming unviable. They can’t bury their heads in the sand any longer.”


“I congratulate the management teams that have made the often difficult and unpopular decisions. They have cut their cloth according to the market conditions and as a result are more stable for it. Those failing to do so are running out of time and cash. Without a big increase in demand they cannot support their pricing strategy for much longer. Watch out for a number of failures in the coming months among the companies we have identified.”


The new Plimsoll Industry Analysis – Scientific & Laboratory Equipment provides an intimate


assessment of 693 companies in the market. It will tell you instantly which companies are pursuing a reckless strategy and who is getting it right.


Readers of International Labmate are entitled to a £50 discount of this new special edition of the Plimsoll Industry Analysis – Scientific & Laboratory Equipment. Call 01642 626400 for further details and quote reference PR/PC40.


UK financial exclusion gap widens


Record numbers of people are turning to non-profit financial institutions for loans after being refused by banks and building societies, according to Dr Lindsey Appleyard, of The University of Nottingham’s School of Geography. Delegates at the annual international conference of the Royal Geographical Society (with IBG) held in August heard Dr Lindsey argue that the UK’s network of CDFIs (Community Development Finance Institutions), established in 2000 to serve those who have been excluded from accessing mainstream finance — such as start-up businesses and individuals on low income — require greater Government and private support to meet rising demand from new markets.


His study, funded by the Economic and Social Research Council (ESRC) and completed at the University of Birmingham, revealed that the ‘credit crunch’ has extended the need for alternative financial lenders beyond conventional locations of geographic and social disadvantage, with the CDFI network reporting 15.3% growth in investment and loan portfolios in 2008.


Appleyard said: “The majority of the UK’s CDFIs were set up to encourage renewal in under- invested communities. Now, as the economic landscape is changing, we see CDFIs no longer as the lenders of ‘last resort’, but dynamic organisations which could provide a partial solution to an increasingly significant finance problem, if only they receive the appropriate investment.”


Appleyard’s principal case study, the Aston Reinvestment Trust (ART), belongs to the West Midlands’ FairFinance consortium of CDFIs, which in May 2009 reported record increases in lending.


Steve Walker, ART Chief Executive, said: “Demand for our services tripled in the six months leading up to March this year and we’ll soon have to be more selective. The vital question for the UK economy right now, is if the banks aren’t lending to small or even medium sized businesses and CDFIs lack the resources to step in, as our experience shows, who is going to fill the gap?”


Whilst Appleyard’s research indicates there are signs that mainstream lenders are now increasing their capacity to provide loans, it warns that the UK’s network of CDFIs risks collapse unless Ministers set out a clear strategy on financial exclusion, showing how the Government will support these institutions to meet demand.


Exporting from East of England still buoyant


The latest regional trade statistics published by HM Revenue & Customs for the first quarter of 2009 reveal that trading between the East of England and non-EU countries has increased 11.3% year on year, and within that, trading specifically with Asia and Oceania is up 13.8%. Exports as a whole from the East of England have increased by 4.7% year on year.


Of significance is the growth in companies exporting to newly emerging markets such as China, India, Brazil and Russia. China is the world’s third-largest economy and third-largest importer of goods and services offering many opportunities for the region’s companies, while Russia, India and Brazil are amongst the world’s fastest growing economies.


A growing number of businesses are recognising the opportunities of venturing overseas to provide new revenue streams,


protect jobs and increase profitability. For many, a major factor contributing to their export success is the pound’s favourable exchange rate, making UK goods and services even more attractive.


Helping businesses to export, and also assisting foreign-owned companies to set up in the region, is East of England International (EEI) which delivers the UK Trade & Investment’s (UKTI) comprehensive business-support programmes.


Commenting on the results, EEI’s chief executive, David Riches, said: “As the figures show, even though we are in a recession there are still opportunities for businesses in the global marketplace. Importantly, with the support of UKTI offices in 99 countries, we can help businesses make the right connections in an overseas market to get them trading.”


Through UKTI’s support programmes and a team of expert International Trade Advisers, including specific expertise in emerging markets, EEI helps businesses of all sizes and from across all sectors to maximise their export potential. Core programmes include Passport to Export designed to take firms with no export experience to successfully winning business overseas, and the newly launched strategic Gateway to Global Growth programme that helps experienced exporters take their international business to the next level.


Making contact with the right people and organisations can be the key to success when trading in a foreign country. This is where UKTI’s Overseas Market Introduction Service (OMIS) has proved extremely valuable to businesses that have used it. UKTI overseas staff, with their local language skills, market knowledge and extensive political and commercial contacts, can help a business on its way to exporting success.


For further information about UKTI’s range of business support, call East of England International on 0845 641 9955 or visit EEI's export services pages.


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