Nottingham-based Pioneer Group invests in Transdermal Diagnostics
Transdermal Diagnostics (TD), a MedTech spin-out company, has raised £1.1 million to develop the world’s first 100% needle-free blood sugar monitor. The investment will enable the establishment of a state-of-the-art laboratory facility and help accelerate the technical and commercial development of TD’s proprietary technology.
The pre-seed round was financed by an £800K equity investment, which was led by QUBIS, an innovation fund focused on spin-out companies, and includes the venture capital arm of Nottingham-based Pioneer Group, the UK’s largest developer and operator of lab space. Immetric, a fund specialising in growing IP-based, high potential life science ventures also took part, alongside Angel networks Bristol Private Equity Club and Science Angel Syndicate.
Additional to the round was funding of almost £300K from Innovate UK award. Together, this award combined with the venture funding round, represents a solid endorsement of the science underpinning TD’s technology and its potential for commercial success.
TD has developed a wearable smart-patch for non-invasive and real-time monitoring of health biomarkers. The technology uses an array of miniaturised biosensors to sample, via preferential pathways, the fluid bathing the living cells of the skin and quantitatively measure vital health biomarkers, including sugar, at levels which are very similar to those in the blood. This means the technology can be used to measure blood sugar without puncturing the skin.
Dr Luca Lipani, CEO and founder of Transdermal Diagnostics, views the University of Bath spin-out as a leader in the wearable devices revolution. Luca commented: “We are excited to have on board investors with a deep understanding of the transformative potential of Transdermal Diagnostics’ technology platform. Those funds will get us closer to our mission to revolutionize the prevention, diagnosis and management of chronic conditions, starting with diabetes.”
Dr Adelina Ilie, chief scientific officer of the company, says: “The technology required a truly interdisciplinary approach, and was only made possible by the latest advances across multiple fields, such as advanced nanomaterials, nano- and bio-technology, and machine learning-driven data analysis. Scalable methods able to deliver a device like ours on a flexible platform were also essential.”
Dr Glenn Crocker MBE, executive director at Pioneer Group, says: “We got to know TD through participation on our LAUNCH programme, backed by Innovate UK, and were impressed by both the team and the technology, which has the potential to be transformative. In the UK alone, 15 million people suffer from long-term, chronic diseases meaning Transdermal Diagnostic’s technology has huge real-world applications and commercialisation potential. Looking ahead, Pioneer Group will work closely with the company to help scale and commercialise the technology on offer by plugging the company into an ecosystem has supported over 200 entrepreneurs and backed 38 start-ups.”
Transdermal Diagnostics is a member of Spin Up Science Ventures accelerator program. Transdermal Diagnostics’ growth, and its regulatory and commercial plans, have been further catalysed by taking part in the Pioneer LAUNCH programme and SETsquared Scale-up programme, the award of the Health Technology Regulatory and Innovation Programme and the Innovation to Commercialisation of University Research (ICURe) programme, and support from the Academic Health Science Networks (AHSN).
Nottingham Trent University to launch London campus
Nottingham Trent University (NTU) will expand into London in 2023 with the creation of a new campus dedicated to delivering pioneering creative education aligned to the entertainment industries.
This development enhances considerably NTU’s capacity to support social mobility as a growing generation of young people in London and South-East look to enter vocational education to launch them into their careers.
The campus will be based around an expansion of NTU’s Confetti Institute of Creative Technologies, located in Whitechapel, London’s centre for the creative industries.
Students looking to forge a future in the entertainment industries will be able to study hands-on courses in performance, production and business for the music industries, event management, and emerging technologies such as esports, virtual production, and content creation. Courses will be open to both UK and international students, with undergraduate and postgraduate qualifications available.
Confetti has delivered leading edge creative industry education since 1994, whilst creating a unique suite of commercial businesses that supports the student learning experience. These include Metronome, a music and events venue, and Confetti X, a complex dedicated to esports production which recently hosted the Commonwealth Esports Championships qualifiers. NTU’s London campus will replicate that model, creating a multipurpose live events venue for students to learn and work in.
Reflecting the course offer in Nottingham, the student experience will be underpinned by a proven curriculum, world-class learning opportunities, and extensive industry connections. This will allow students from campuses in Nottingham and London to collaborate on live projects, access work experience across the UK, and spend parts of their study across both campuses. It will offer new progression routes for Confetti college-level students from Nottinghamshire to study in one of the world’s leading commercial, financial, and cultural centres.
This ambitious plan will be strengthened by the relocation of Access Creative College’s London centre onto the same campus. The UK’s largest independent training provider, specialising in creative education, will provide its students with the opportunity to continue their studies in London through NTU.
Work on the 35,000 sq ft campus is now underway, with the first intake of students scheduled for September 2023.
Professor Edward Peck, CBE, NTU vice-chancellor, said: “Confetti London supports NTU’s vision of generating new innovations in teaching and new partnerships for practice that build on our sector leading, industry-based approach. It will offer easy access for students in London and the South-East to the opportunities to transform their futures that have been available to those in the East Midlands for twenty five years.
“We look forward to working with local communities and businesses in preparing for our new students in 2023.”
Craig Chettle MBE, founder and Chief Executive of Confetti, said: “Since its creation, Confetti’s vision has been to shape the future creative industries by cultivating dynamic, entrepreneurial and imaginative graduates. Thanks to the support from NTU, creating a campus in London demonstrates our ambitions and ongoing commitment to that vision.
“I see the campuses in Nottingham and London working in tandem, creating exciting links and opportunities across the entertainment industries for all our students in both cities. Nottingham will always be our first home, but I’m excited to see the new opportunities that a London base will provide for the University, Nottinghamshire and the East Midlands.”
Castle Gym confirms closure
What is believed to be the oldest gym in Nottingham is set to close.
Established in 1981, Castle Gym on Castle Boulevard has looked after the health and wellbeing of its members for over 40 years.
Now, following a running battle over the future of the site, owner Luke Willmott has confirmed that the doors of the iconic facility will open for the last time in December.
“It is a really sad day. I’ve fought tooth and nail for this gym and we’ve even had membership enquiries increasing during this battle which makes this even more painful but sometimes, you do have to accept that you can’t win them all.
“I have tried every conceivable angle to keep us here and fought for the other tenants during this fiasco but there is only so much you can do and frankly, only so much I can take from a financial, emotional and stress point of view.
“The bit that pains me the most though is that whilst I can feel the impact on my own mental health, I know that a lot of our members and day-users train with us because the gym is hugely beneficial in that respect.
“People see gyms, especially the more ‘raw’ experiences like ours, as a place to build muscle but they are also massive in terms of mental health benefits and their sense of community. That will be missed when we close in December and does worry me. It’s a home from home and a place to grow and improve for so many.”
During the pandemic, Luke attracted controversy and praise in equal measure, at first vowing not to shut the gym as it was so central to the wellbeing and mental health of its members (before closing after reviewing the situation carefully) and then working with local charities to provide thousands of bottles of hand sanitiser to those most in need.
“Look, we’re a lot more than a room full of iron. We’re a community. One of our team, Ray, has been working here ever since the gym opened! He knows everyone here and everything about getting and keeping healthy. It is the end of an era here for him and for our members.
“I am now reluctantly focusing on how best to close the gym down as there is a heck of a lot of kit in here but there’s even more stories. That’s what we will all miss the most I think, the people not the plates. I can only apologise that I’ve not been able to save it for them.”
Get ready to celebrate the region’s property and construction industry at the East Midlands Bricks Awards 2022
With the East Midlands Bricks Awards 2022 taking place next week, on Thursday 15 September at the Trent Bridge Cricket Ground, secure your tickets now to celebrate with the region’s property and construction industry while connecting with local decision makers over canapés and complimentary drinks.
The prestigious event, taking place from 4:30pm – 7:30pm, will also feature John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker, as well as award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking.
Thanks to our sponsors:
Tickets can be booked for the glittering awards event here.
Attend to forge new contacts and see who takes home most active estate agent, commercial development of the year, responsible business of the year, residential development of the year, developer of the year, deal of the year, architects of the year, excellence in design, sustainable development of the year, contractor of the year, and overall winner.Shortlist for the East Midlands Bricks Awards 2022
Most Active Agent – sponsored by Blueprint Interiors Mather Jamie OMEETO BB&J Commercial Commercial Development of the Year – sponsored by Frank Key Broad Marsh Bus Station and Car Park – Galliford Try Construction Etiquette Park – Clowes Developments Nottinghamshire Police and Nottinghamshire Fire & Rescue Service joint HQ – Henry Brothers Responsible Business of the Year – sponsored by Press for Attention PR Cawarden Arc Partnership Phoenix Brickwork Residential Development of the Year – sponsored by Sterling Commercial Finance The Rise, Southwell – Stagfield Group Glenvale Park – Glenvale Park LLP Hindle House – KMRE Group Deal of the Year – sponsored by Blythin & Brown Insurance Brokers St James Securities – Phase Two of the Becketwell regeneration scheme in Derby – 3,500 capacity Becketwell performance venue with ASM Global Wells McFarlane, APB and Newton LDP – sale of 460 acres of land in North Leicestershire, making way for a new garden village Morgan Industrial Properties Limited – acquisition of the former Ewart Chain site in Shaftesbury Street, Derby Developer of the Year – sponsored by Ward Hockley Developments St James Securities HBD Architects of the Year – sponsored by OMS Swain Architecture Rayner Davies Architects CPMG Architects Excellence in Design – sponsored by Cawarden St. Peter’s Gate renovation – CPMG Architects Health and Allied Professions Centre at Nottingham Trent University – Pick Everard Brookside Farm – Chevin Homes Sustainable Development of the Year – sponsored by Viridis Building Services Refurbished HQ for LKAB Minerals – Scenariio Northern Gateway Enterprise Centre – Chesterfield Borough Council, Whittam Cox Architects, Robert Woodhead Group Broad Marsh Bus Station and Car Park – Galliford Try Construction Contractor of the Year – sponsored by RammSanderson Galliford Try Construction Cawarden Enrok Construction The Overall Winner, sponsored by Streets Chartered Accountants, will also be announced at the ceremony, who will be awarded a year of marketing/publicity worth £20,000.
To be held at:
Warsop Health Hub and Mansfield Woodhouse Station Gateway plans given green light
Mansfield District Council has received the go-ahead for the Warsop Health Hub and Mansfield Woodhouse Station Gateway, following a delegated decision by the Section 151 Officer at the authority.
The projects will now be shared with the Making Mansfield Place Board for endorsement and once secured, the council can press ahead submitting the required planning applications, appointing contractors and beginning construction works.
The Hub and Station Gateway are just two of six projects included in the council’s £12.3m Towns Fund allocation. Berry Hill Park, Destination Mansfield and Smart Mansfield were approved by officers and endorsed by the Place Board members earlier this year.
£506,000 of Towns Fund money has been set aside for the Mansfield Woodhouse Station gateway, which includes the creation of three business units. The site where the units will sit is a former brownfield site and lies adjacent to the railway station at Mansfield Woodhouse.
Head of Planning and Regeneration at the council, Martyn Saxton said the vision for the gateway project will “support the growth of businesses in Mansfield and create jobs.”
He said: “The Station Gateway scheme will see the delivery of three new build industrial units, complementing the six-unit development already on the site – allowing a wider range of businesses to grow and flourish.
“We’ve seen locally there is a healthy demand for small industrial spaces and currently Mansfield has a limited supply. This project will not just deliver positive visual improvements to the currently derelict land, it also offer employment growth in the area. The council is playing an active part in supporting local businesses to get started and help them grow with new and affordable unit space.”
The Station Gateway scheme will see the delivery of 290 sqm of commercial floor space. All works are expected to be completed by spring 2023.
The full council agreed in March to earmark £1.5m from reserves to part fund the Warsop Health Hub, and also approved the borrowing of up to £3.5m to help deliver the scheme. £3m is allocated to the plan from the Towns Fund, and a bid has been submitted to Sport England for a further £1.5million.
The scheme will see a 15m x 8m swimming pool, a changing village, fitness suite, a multi-purpose hall and a new and improved multi-use games area created in the town.
David Evans, head of Health and Communities at the council, added: “We are committed to building these new community facilities in Warsop.
“We hope to see them transform a huge part of our community and bring improvement to the quality of life for local people. They will also help to address some of the health inequalities that exist in this district.
“We have committed our own funding to this scheme as well as Towns Fund money and are hopeful of securing additional funds from Sport England in the near future.
“The Warsop Health Hub is now moving forward in the development of its final design with planning permission expected to be secured by March 2023, and works to commence on site later in the year.” Out of control energy bills are now business threatening for 60% of manufacturers
Britain’s manufacturers are warning that their energy costs have already spiralled out of control, with nearly half reporting that their electricity bills have shot up by over 100% in the past 12 months and 53% expect the same fate in the coming year.
The current crisis is leaving businesses facing a stark choice – cut production or shut up shop altogether if help does not come soon. A worrying 12% of manufacturers have already made job cuts as a direct result of increased energy bills, but admit that more drastic action such as full shutdowns and wider redundancies will be needed if the expected price hikes of over 50% materialise in the next 12 months.
High energy prices are no longer an issue for energy intensive industries only, the impact is being felt across manufacturers of all sectors and sizes. Companies have attempted to mitigate against this with 58% already adjusting business practices to reduce energy consumption by insulating buildings and installing better performing heat systems. And over half have already priced in the increases into their final product.
Some 13% are now reducing production for short periods or avoiding production altogether during peak energy price periods, with 7% reducing production already for longer periods in the day. Over a third of firms are actively searching for a new energy provider and two fifths have renegotiated a fixed tariff for the next year.
Securing their own energy supply has become a priority for many manufacturers, with over a quarter (27%) of firms surveyed saying they have managed to find the funds and have already moved to onsite generation.
One in 10 have redistributed capital from other parts of the business to cover energy costs while 7% have taken on new or further finance to cover rising energy bills. Over seven in ten have seen reduced margins or profits as they struggle to pay the bills, with almost every manufacturer surveyed saying Government is not doing enough to support industry.
The UK is currently lagging way behind other EU counterparts who are offering far more emergency help for industry – the Italian Government for example has reduced levies placed on gas and electricity bills, reduced VAT and introduced tax credits for energy intensive industries.
To bring the critical help to UK businesses, the new Government urgently needs to take short term, medium term, and long-term action.
Short term
- Remove Carbon Price Support to reduce electricity costs. For medium electricity users this would save companies almost £90,000 a year
- Explore Industry Price Cap to freeze prices at an agreed rate – funded either directly by Government or explore way of working with banks to fund an arrangement to finance a cap
- Maximise incentives to enable businesses to be less reliant on the National Grid. Extend 100% rates exemption for plant and machinery use in onsite renewable energy generation and electricity storage from 12 months to at least 3 years, more reflective of the payback period of the investment.
- Extend business rate relief on commercial building improvements (eg insulation) from 12 months to at least 3 years
- Rapidly reform wholesale market to decouple electricity prices from the gas price
Manufacturers call for ‘shock and awe’ Budget to prevent economic scarring
Britain’s manufacturers are calling on the Government to bring forward a package of policy measures on the scale of those seen during the worst points of the pandemic to prevent a permanent scarring of the economy and help avert a severe recession, potentially substantial insolvencies and job losses.
The call comes on the back of data from Make UK showing the massive impact of rising energy costs on companies, together with the cumulative effect of increases in other business expenses such as increased transport costs and disruption alongside National Insurance Contributions and the proposed increase in Corporation Tax.
According to Make UK, the impact of the potent cocktail of factors from the last few years, now being compounded by the energy crisis, is as big a threat to manufacturers as the Covid pandemic, if not greater.
As well as the impact of the rise in energy costs, almost three quarters of companies (74%) say they are facing increased transportation costs and more than four fifths (82%) reported transport disruption is an issue for their business. Four in ten companies surveyed said that disruption at the Dover Calais crossing was causing either catastrophic or major disruption to their business.
The measures Make UK is proposing include specific proposals on energy, as well as a range of measures to aid cashflow, provide greater access to Labour supply along with initiatives to encourage investment, especially in energy efficiency technologies.
Chief Executive of Make UK, Stephen Phipson, said: “Whilst industry has recovered strongly over the last year, we are clearly heading for very stormy waters in the face of eyewatering increases in energy costs and a difficult international environment. This threatens to shatter expectations of a sustained recovery from the pandemic.
“Some of the factors impacting companies are global and cannot be contained by the UK Government alone. However, just as it is quite rightly taking measures to protect the least well off, given the rate at which companies are burning through their balance sheets just to survive, it must take immediate and substantial measures to help shield companies from the worst impact of escalating costs and help protect jobs.
“We need a shock and awe suite of proposals to protect viable companies and jobs and we need them now. Manufacturers cannot afford to wait for a functioning Government to get its feet under the table.”
Among the immediate measures being proposed by Make UK include:
- Reduce VAT on business energy bills from 20% to 5%
- Reverse the National Insurance Contributions increased from 2022
- Extend current business reliefs applied to other sectors to manufacturing
- Extend business rates reliefs for both building improvements and eligible plant & machinery
- Introduce a long-term capital allowance regime to spur investment in green technologies and energy efficiency measures to reduce energy consumption
- Make the Annual Investment Allowance permanent
- Undertake a full and fundamental reform of Business Rates
- Commission the Migration Advisory Committee to review and revise the shortage occupation list by early 2023 at the latest
New showreel launched by local video production company
Glowfrog Video Production have launched their 2022 showreel advert, which includes some East Midlands Business Link readers’ videos.
The showreel contains some of their highlight footage from their past year of working with companies across the East Midlands, such as Create Finance in Derby and Albion Bathrooms in Burton.
See the difference that professional video production can make – you can watch Glowfrog’s new showreel below. If you would like more information either visit www.glowfrogvideo.com or call 01332 492 465.
East Mids law firm records 12% increase in turnover since start of pandemic
Law firm Howes Percival has recorded a 12% increase in turnover since the start of 2020, with profits per equity partner also up 12% over the same period, according to its latest annual results.
The firm, which is celebrating 25 years in Leicester this year and also has an office in Northampton, has seen turnover increase from £23.4m before the pandemic, to £26.3m this year and market share increase across all of its UK offices.
The last 12 months have also seen Howes Percival invest in a nationwide expansion programme, with close to 100 new recruits appointed in that period.
Howes Percival’s Leicester office opened in July 1997 on New Walk with a team of just six lawyers. Today, over 60 of the firm’s staff are employed at its Meridian Business Park office, providing the full range of corporate and family law services.
The firm has had a presence in Northampton since 1790. In 2016, Howes Percival moved to new, bigger premises at Rushmills, where it now employs 70 staff. In May this year, Hannah Pryce and Alexandra Kirkwood were promoted to partner.
Howes Percival chairperson and Leicester partner, Geraint Davies said: “We are absolutely delighted with the way the firm has performed over the last couple of years. Like everyone, we experienced the shock waves when the pandemic struck, but we were able to adapt quickly to the new ways of working to support our clients and take advantage of the opportunities that emerged in certain sectors. We’ve seen very strong growth in core areas such as corporate and commercial, property, litigation, employment law and private client services.
“The pandemic presented a unique set of challenges, but the firm responded strongly. We made a conscious decision to carry on investing in people and technology during the pandemic, to ensure that we were in the best possible position when we came out the other side, and that is now paying dividends. We are seeing the momentum carry on and anticipate further double-digit growth in this financial year too, as a result.
“When it comes to marking 25 years of Howes Percival in Leicester, we wanted to shine a spotlight on what makes it a fantastic city to live, work and do business in. We saw this as an opportunity, not only to recognise our Leicester office’s achievements, but to give back something meaningful to the community. Our people have been integral to planning the celebrations and the whole office has come together in a true team effort to support the events taking place throughout the year.”
Revenue rises at Belvoir
Revenue has risen while pre-tax profits have slipped at Belvoir Group, the property franchise and financial services group with its central office in Grantham, in interim results for the six months ended 30 June 2022.
The firm reported a 12% increase in revenue to £15.4m, up from £13.8m in the year prior, of which 1% relates to the growth in the underlying business and 11% to corporate acquisitions in 2021 and 2022.
Meanwhile profit before tax dipped slightly to £4m from £4.8m.
Belvoir acquired The TIME Group, a network of 63 financial services advisers, in May 2022 and Mr and Mrs Clarke, a concierge-style personal estate agency business operating through 10 partners, in March 2022.
Dorian Gonsalves, Chief Executive Officer of Belvoir Group, said: “I am delighted to report that our strong lettings base, investment in further franchise networks and diversification into financial services have all helped to mitigate the correction in the level of property sales transactions after the exceptional year for the housing market in 2021.
“During the first half of 2022 the Board continued to pursue its growth strategy to strengthen the group’s service offering. The acquisition of Mr and Mrs Clarke provided the group with a platform from which to develop its personal agency model, and the acquisition of The TIME Group added a further 63 advisers to our already established and successful financial services network.
“The group’s investment in businesses to expand both the property and the financial services divisions, and the strong pipelines of house sales and related mortgages at the start of H2, underpin the Board’s confidence of achieving managements’ expectations for the full financial year.”
