30-04-2025
- Business
- The Herald Scotland
Scottish firm backed by investment fund to create new jobs
The money has been provided by the Investment Fund for Scotland, which is managed by Maven Capital Partners and the Scottish National Investment Bank.
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NCIMB's facility at the Wellhead Industrial Estate opened in 2023 and includes microbiology labs, cold storage and molecular suites. Chief executive Edward Green said the fresh investment will allow the company to meet growing demand and create new jobs.
"The funding is transformational for the business, allowing us to scale in the northeast of Scotland and better support our customer's needs in life sciences," he said.
"In addition, it allows us to deliver our long-term vision to deploy our unique microbial platform to deliver impactful biotechnology solutions addressing grand societal challenges including decarbonisation, climate change, food security and healthy living.'
The £150m Investment Fund for Scotland is designed to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses. It does this by providing early-stage funding to firms that might not otherwise receive investment.
Businesses previously backed by the fund include the long-established Wilsons Pet Food, water treatment specialist Scotmas Group, and premium Indian ready meals business Praveen Kumar. The fund provides loans from £25,000 to £2m, and equity investment of up to £5m.
'NCIMB is globally recognised for its culture collection and for delivering high-quality microbiology services and is uniquely positioned to meet growing market demand for contract research organisations with deep domain expertise," said David Milroy, partner at Maven.
"This investment will allow the company to scale its commercial operations, expand its licensing business, and enhance its service offering to customers worldwide. We are delighted to join the team at this point in the company's journey and look forward to helping them further scale the business.'
