In October 2015, SyndicateRoom members invested alongside John Knight, Malcolm Chapman and Anthony Gilbert, helping The Electrospinning Company to raise £381,789. Some followed on in a round of £650,000 in January 2017.
The Electrospinning Company designs, develops and manufactures 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 in 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 a biomaterial component for a family of orthopaedic medical devices that have been sold in the USA for over two years, and which are the first such products to have FDA regulatory approval. The Company is building on this success by growing a pipeline of bioregenerative device customers, providing electrospun materials for clinical development programmes and products, and developing a range of new products for this growing market.
The Company achieves high gross margins and has good forward order book visibility. Sales revenues have almost doubled in each of the last three financial years. The Company is expanding and will move into new facilities towards the end of 2018.