Suffolk-based life sciences firm PBD Biotech is expanding into new global markets with a £125k angel investment from New Anglia Capital.
The company, based in Thurston is establishing a Canadian subsidiary to meet growing international demand.
PBD’s Actiphage technology is a 6 hour test to detect live mycobacteria (a common cause of diseases in cattle) in blood or milk.
It has the potential to become a significant tool in the detection and control of tuberculosis, Johne’s Disease and other mycobacterial diseases in animals as well as humans.
In May 2018, the UK Government accepted PBD Biotech’s technology for exceptional private use on TB-stricken cattle herds in England. International discussions are underway to market Actiphage in multiple regions including the USA, France, Dubai, Argentina, Brazil and Canada.
New Anglia Capital is a co-investment fund managed by New Anglia Local Enterprise Partnership (LEP) in partnership with Anglia Capital Group that brings angel investors together to kick-start new products and innovative ideas, as well as supporting existing high growth companies. So far the fund has invested £2m in 13 projects across Suffolk and Norfolk.
New Anglia LEP CEO Chris Starkie said “Seed funding of this kind is vital for businesses to take innovative new ideas and turn them into something tangible – with job creation and economic growth the result. PBD Biotech is doing just that, and doing it within an industry sector that plays a key role in driving our economy forward.”
Dr Berwyn Clarke, CEO of PBD Biotech, said “This investment from New Anglia Capital, and other investors, has enabled us to take the next-step in getting the Actiphage technology into international markets. It has accelerated the company’s timeline, meaning we’re about six months ahead of where we were expecting to be. We now have a number of commercial opportunities all over the world that are ready to go. For an early-stage company this is an exciting position to be in.”