Investment boosts SpheriTech’s growth
SpheriTech received a six-figure investment has come from a financial backer who wishes to remain anonymous. The investor has taken a 20% holding in SpheriTech. 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. 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.”
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.
Most read news
Topics
Organizations
Other news from the department business & finance
![Newsletter](https://img.chemie.de/assets/awportal/images/newsletter.png)
Get the analytics and lab tech industry in your inbox
From now on, don't miss a thing: Our newsletter for analytics and lab technology brings you up to date every Tuesday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.