North East-based biotechnology company prepares for growth

Submitted by on Tue, 10.06.08

A Newcastle-based nano-biotechnology company is aiming for further success following a £150,000 funding boost from NEL Fund Managers Limited (NEL).

Orla Protein Technologies Limited (Orla) aims to double its turnover within 12 to 18 months and expand its workforce taking staff numbers from five employees to at least 10.

 

The company, which was established six years ago, is focussed upon high performance bio-surfaces which have applications in diagnostics, cell culture and life science tools, and plans to introduce these technologies into wider markets with the funding from NEL.

 

The unique platform technology that Orla provides overcomes existing limitations to the manufacture of biological surfaces. Orla has patented, developed and commercialised a technology which radically simplifies the way in which proteins are immobilised on surfaces. This leads to dramatic improvements in functionality, utility and manufacture.

 

One of its many applications is in medical diagnostics, and Orla have recently signed an agreement with leading Japanese electronics manufacturer, Japan Radio Co Limited (“JRC”). The new deal will see the two companies further develop & bring to market a range of ground-breaking diagnostic devices.

 

Dale Athey, Chief Executive at Orla Protein Technologies Limited, said: “We are seeing increased demand for our technology which enables materials and devices to be utilised for lucrative healthcare applications. Orla is working with a number of companies in the electronics and device sectors but the tie-up with JRC is particularly intriguing. JRC have huge expertise in miniaturisation and the mass production of electronics, particularly in mobile telecommunications.

 

“The collaboration with JRC therefore holds out the possibility of developing a product which intersects the sectors of medical diagnostics and tele-medicine, allowing the results of diagnostics at the point of care to be transmitted elsewhere through mobile telephony.

 

“Our success could not have been possible without the further funding. We have extended our offerings by reaching international clients and this is something we are keen to develop. Orla’s platform technology has other applications such as cell biology, where the unique surfaces can trigger a stem cell to differentiate into a tissue such as bone.

 

“This is a very exciting time for us at Orla and the team at NEL has been an excellent source of growth funding. From day one, they were extremely supportive of our plans and a strong ally in our efforts to establish ourselves on the global stage. They will continue to support us as we move forward and raise further funds.”

 

Barrie Hensby, Chief Executive at NEL Fund Managers, said: “The team at Orla have implemented an almost textbook example of how to spin-out technology from a university, in this case Newcastle, building on the world class technology developed by Professor Jeremy Lakey, an acknowledged expert in this field. The opportunities they have generated are hugely significant in areas that I can only describe as “sexy”!

 

“Back in 2003 and as a relatively new company, they needed seed funding to get their technology recognised and accepted. Since then they have taken that technology very effectively into the commercial sector. When they approached us again earlier this year, we were thrilled to help out with further funding.

 

“Dale and his team are very ambitious and the success they are having in Japan proves this. We hope that the company will become a worldwide leader in its field by turning a unique platform technology into a series of world-beating products.”