In October 2015, SyndicateRoom members invested alongside John Knight, Malcolm Chapman and Anthony Gilbert, helping The Electrospinning Company to raise £381,789.
The Electrospinning Company develops and produces biomaterial scaffolds which enable doctors and scientists to 'grow' cells for use in regenerative medicine, such as re-growing damaged tissue in a patient’s eye, or drug development.
These advanced biomaterials can be implanted in the body as medical devices that promote healing by the patient’s own cells, thereby reducing rejection rates for implants and rates of internal scarring. These materials enable safe, affordable treatments for a range of conditions such as tendon repair, wound healing and incontinence.
The company is headed up by CEO Ann Kramer, over 25 years’ commercial experience in multinational (Zeneca, Syngenta) and SME companies (BD at Oxitec, COO at Immunocore, CEO at Biosyntha). The lead investors were: John Knight, who sold his computer leasing company for $25m after expanding into the USA; Malcolm Chapman, a professional engineer and a successful entrepreneur and philanthropist; and Anthony Gilbert, who has worked in large, complex organisations, as well as smaller companies, startups and public sector bodies.
Of The Electrospinning Company, John Knight said, ‘Electrospinning have excellent products which, given time, will do well – beating the competitions’ offerings hands down in the 3D market'.
Where are they now?
Currently, The Electrospinning Company is supplying the materials for the first in-man clinical trial of the regeneration of patients’ cornea, as part of a project led by the L.V.Prasad eye clinic in Hyderabad in India, in conjunction with the University of Sheffield.
The Electrospinning Company’s revenues have doubled over the past financial year, and the company has been awarded £1.4 million in non-dilutive grant funding. With four commercial contracts on board already and a host of high profile partners, The Electrospinning Company is raising funds to market their services and increase production capacity ahead of their anticipated growth.
The Electrospinning Company has also won several awards:
» Society for Laboratory Automation and Screening Innovation AveNEW award in February 2015.
» “Prize for Best New Innovative Technology” at the European Laboratory Robotics Interest Group conference: 'Research & Innovation: Impact into Cancer' in March 2014.