Biomedical Research Organisation receives £300k funding boost from FW Capital through NPIF
A leading North West biomedical research company has received a
£300k investment from NPIF - FW Capital Debt Finance, part of the
Northern Powerhouse Investment Fund (NPIF).
Alderley Analytical is a bioanalytical contract research company
which supports the development of new drugs by measuring their
levels in biological fluid samples, mainly blood and plasma, taken
in both preclinical and clinical trials.
Set up in 2014 by Elizabeth Thomas, Paul
Holme, Claire Wildgoose and Sally Hannam, the company was one of
the first to move into the new Alderley Park Science Park (formerly
the AstraZeneca R&D site) in Macclesfield, Cheshire.
Alderley Analytical currently employs 21 staff
and has grown turnover from £33K in 2014 to over £1m last year. The
company expects turnover to increase by more than 60% in 2019 with
at least 6 more jobs to be created.
CEO Elizabeth Thomas said: “The funding has
been used to recruit new staff and buy a new Mass Spectrometer, a
high-tech piece of equipment which is used to measure drug levels
in biological fluids. The data we generate leads to the right
dose getting to the right patient and ultimately helps to get new
medicines to market.
“The team at FW Capital were superb to deal
with. We had a tight deadline in which to secure the funding which
required expert advice, support and a lot of hard work on their
part. They provide funding of up to £750k in any one
company so we see them as long term investment partners for the
FW Capital senior investment executive Gavin
Cowling said: “The North West is a real hotbed for the life
sciences sector with Liverpool and Manchester Science Parks,
Alderley Park and Sci-Tech Daresbury all in the region.
“Alderley Analytical is an exciting business
with plenty of growth prospects and a solid pipeline of work. The
company is run by a strong management team which includes
scientific and commercial expertise.
“We are delighted to be supporting Alderley
Analytical and would encourage other life science businesses to
come and speak to us if they need finance for growth.”
Sue Barnard, Senior Relationship
Manager at British Businesss Bank, said: “It is great to see NPIF
funding going towards biomedical companies like Alderley
Analytical, which are enabling the rapid development of new drugs
around the world.
“We aim to work closely with our fund managers
on the ground, to bring more opportunities like this to other small
and medium sized businesses in Cheshire and the wider Northern
The Northern Powerhouse Investment Fund
project is supported financially by the European Union using
funding from the European Regional Development Fund (ERDF) as part
of the European Structural and Investment Funds Growth Programme
2014-2020 and the European Investment Bank.