Rapid Growth Scoops Pathology Diagnostics Erbi Award

Main Category: Medical Devices / Diagnostics
Article Date: 30 Oct 2009 - 3:00 PDT

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The rapid organic growth and commercial potential of newcomer Pathology Diagnostics Ltd. has won it the 2009 ERBI Start-up Award, which is sponsored by the East of England Development Agency.

Pathology Diagnostics Ltd. has achieved a six figure turnover without upfront equity investment. It provides a one-stop solution for human tissue diagnostics. Supporting the development of new medicines, it assesses how drugs work on their target tissues from discovery in the lab to clinical trials.

Annabel Grant of EEDA said the Start-up Award had attracted some exciting new companies, which demonstrated how this important sector of the economy is thriving and vibrant:

"Our sponsorship is aimed at showing our commitment to helping both early stage and more established companies commercialise innovative new technologies," says Annabel Grant. "Whilst good technology and a strong IP position are important, a committed and experienced team will often make the difference between success and failure."

Dr Madhuri Warren MA, PhD, MBBChir, FRCPath, the founder and managing director of Pathology Diagnostics Ltd. was delighted to receive the ERBI award:

"It has been a hectic year working with pharmaceutical, biotechnology and contract research organisations. In only twelve months we have grown to a team of six in Cambridge, set up US links, and expanded our laboratory services. The award provides welcome recognition of that achievement and we are very grateful for the help and support that ERBI has given us."

The global market for human tissue products and assays is estimated at £350 million and is growing by 20-30% p.a. Working primarily in cancer, Pathology Diagnostics Ltd. evaluates drugs, evaluates novel biomarkers and develops companion clinical diagnostics.

Harriet Fear, CEO of ERBI, says that Pathology Diagnostics Ltd. shows how companies can achieve high growth if operating in the right supportive environment.

"Building, developing and enhancing a strong cluster creates the mechanisms needed for start ups to accelerate their growth. One of our roles here at ERBI is to help with that development."

Dr Warren already has plans to expand the company's laboratory and tissue distribution capabilities to meet client demand.

Other companies short listed for the awards are also showing huge potential

Novalia has developed a process for creating low cost interactive printable electronics. Cambridge scientist Kate Stone says the printing technology promises to revolutionise consumer packaging of drugs and other pharmaceuticals. It is possible to integrate sounds, lights and visual changes into existing packaging using the innovative printing technology. Potential applications include pillboxes that indicate clearly when the last medication was taken and what combination of drugs should be taken now - invaluable for the young, elderly or those on complicated drug regimes.

Walker Graham Pharma Consulting provides Qualified Person services to the pharmaceutical, medical device and health care sectors. Partners are specialists allowing clients access to current best practice and advice based on current knowledge and extensive industry and regulatory authority networking, invaluable for pharma SMEs and others during new product development and clinical trial submissions. In six months trading the company has secured contracts with eight clients and already obtained repeat business and has turned over in excess of £200,000.

Source
ERBI