A gene therapy system that can repair and regenerate human tissue is being developed for use in orthopaedic surgery with the launch of a new spin-out company.
TherageniX is a University of Nottingham spin out that’s been launched in collaboration with NLC, a healthtech venture builder, to develop technology that uses gene therapy to provide biological cues to boost the body’s response to regenerating skin, bone, muscle and cartilage. TherageniX will initially focus on orthopaedic application, with the aim of improving the outcomes for patients with bone loss, infection and disease.
This technology has been developed by Dr James Dixon in the School of Pharmacy who has created a platform technology to deliver a variety of therapeutic molecules into different cells and tissues as disease treatments. The platform uses peptides and DNA or RNA to form nanoparticles that when uptaken by cells can drive a diseased or injured tissue to generate its own therapeutic molecules.
Bone repair usually uses grafts from the patient’s own body (autologous), but this has drawbacks when there is not enough bone available for large defects or when there is risk of infection, or further trauma at the harvesting site. Many bone implants fail due to poor integration, infection or do not function well when healed.
TherageniX’s solution will be added to autologous bone grafts during operations by delivering genes directly as a powdered medicine while the patient is undergoing surgery. This will improve the regenerative capacity of the graft and is expected to lead to better outcomes, while reducing trauma at the graft donor site. This new therapy will also reduce waiting times for patients and manufacturing costs.
Dr James Dixon, School of Pharmacy, University of Nottingham, said: “Adapting our technology for a rapid application directly to grafted tissue within the operating theatre has been a vision for our gene delivery platform for several years, we have the opportunity here to bring regenerative medicine and gene therapy forward with innovative applications and apply it in ways we could not have envisaged only a few years ago.
“We hope that our system will generate a platform of transformative, economically viable and impactful approaches to clinical problems that remain poorly addressed in modern medicine.”
Anandkumar Nandakumar is the CEO of TherageniX. He said: “I am very excited about the technology and we have a unique approach to help patients with bone defects. We are only at the first step with the possibilities of this technology. In the future we can envision treating several types of defects and tissues and move towards personalized medicine.”
TherageniX is an early stage venture with the first proof of concept in pre-clinical studies and has been supported by Nottingham Technology Ventures who manage the University of Nottingham’s spin-out portfolio.
Alice MacGowan, Nottingham Technology Ventures, said: “We’re incredibly pleased to announce the launch of TherageniX and are looking forward to seeing the potential of this platform realised for orthopaedic applications.
“Delivery of gene therapies to the site of action is a critical challenge, which this innovation has the ability to solve. It is incredibly rewarding to see the work of Dr. Dixon and colleagues at the University of Nottingham recognised by this external investment.” Eco-friendly manufacturer secures further investment
Producing sustainable products for warehouse storage, packaging and logistics, The Alternative Pallet Company, trading as PALLITE® Group, has received follow-on funding from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme.
This latest £750,000 funding for the company follows a previous MEIF investment, which saw the company create 18 new jobs at its Wellingborough base, establish trading in new overseas markets, and more than double its sales revenues.
The new funding will be used to create new roles in finance and operations, boosting capacity to meet increased demand and supporting the next phase of growth.
Paul Etty, PALLITE® finance director, said: “We are delighted to have secured MEIF funding, which ensures we press ahead with our growth plans. Our products provide customers with environmentally friendly solutions to help reach their sustainability targets.
“We are honoured to be a recipient of a King’s Award and excited to be taking this offering to more markets. FSE has continued to show an understanding of our business model and is able to invest where traditional lenders cannot.”
Ann Marie McFadyen, investment manager at The FSE Group, added: “Paul and the team have made impressive progress since our last loan – despite difficult trading conditions caused by covid and Brexit – with the company on track to deliver over 100% growth in 2023 for the second year running.
“We are pleased to be continuing to support this growing and ambitious business as it develops more sustainable products for worldwide use.”
Largest loan amount in over a decade awarded by Leicester charity
The Sir Thomas White Loan Charity (STWLC) has awarded its largest quarterly loan amount in over 10 years, with £171,000 to be delivered in interest-free loans to 14 Leicestershire businesses, and £11,500 awarded in interest-free education loans to support postgraduate studies.
In total, 16 loans were approved this quarter, totalling £182,500.
This represents the largest business loan total approved by the charity in a single quarter in over a decade – and is also the largest overall total for a quarter in over 10 years.
Among the 14 Leicestershire businesses to receive interest-free loans this quarter are an optician, landscape gardener, creative agency, make-up artist and videographer.
Meanwhile, the two education loans will help individuals to study postgraduate courses in Camera, Sound & Vision Mixing in TV production and an MSC in Economics and Finance.
Established in 1542, STWLC hosts quarterly application windows each year in which people aged over 18 and under 45 can apply for unique interest-free loans of up to £20,000 to aid local businesses, or £10,000 to support students wishing to return to postgraduate education. The charity’s loans are interest-free for nine years, and become repayable by equal instalments after three years.
Lucy Womack, chair of STWLC, said: “All I can say is, wow! To have approved our largest quarterly loan amount in over a decade is incredible news for the charity and we’re absolutely thrilled to be expanding our support to so many across Leicestershire & Rutland.
“The number of applications we received was fantastic, but it was the high quality of these applications and business plans which was most pleasing to see, and this is the reason why we were able to approve such a large allocation.
“Our offer is unique, and it sometimes sounds too good to be true, but these businesses and individuals will be seeing first-hand how valuable an interest-free loan can be for a start-up, an existing business, or when returning to university.
“If you could benefit from an interest-free business loan up to £20,000, or an education loan up to £10,000 to support with tuition and living costs, please visit our website to find out more. The worst we can say is no, but the chances are, we’ll say yes!”
The next deadline for applications is 3.30pm on Monday 3 July 2023.
The East Midlands Bricks Awards 2023: “A great opportunity to recognise the expertise of the region’s property and construction supply chain”
Derby City Council is showing its support for Business Link’s East Midlands Bricks Awards 2023, calling it “a great opportunity to recognise the skills and expertise of the region’s property and construction supply chain.”
The event celebrates the East Midlands’ property and construction industry, its people, and exceptional developments, and provides the perfect occasion to shine a light on your team, reward their hard work, and boost morale.
Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism at Derby City Council, said: “We’re ready to bring a fresh energy and perspective to delivering an ambitious programme of regeneration for the people of Derby. As a new administration, we’re committed to creating a thriving and vibrant city and look forward to working with talented, innovative and sustainable development partners.
“The East Midlands Bricks Awards is a great opportunity to recognise the skills and expertise of the region’s property and construction supply chain.”
With nominations open until Thursday 31 August, now is the ideal time to enter your (or another) business/development for the awards. To do so – click on a category link below or visit this page.
To be held at:
Award categories include:
Thanks to our sponsors:
- 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
- Overall winner (this award cannot be entered, the winner will be selected from those nominated)
To be held at:
E-mobility start-up Ottr joins forces with five brands to create global mobility powerhouse
Under the flagship umbrella of ‘Today’, East Midlands firm Ottr and five other brands which are backed by venture capitalist fund EFO Ventures mark a significant milestone in the micro-mobility industry.
Ottr, Frog, Leap, Element, MIXTE and White Fox will unite their expertise and resources to deliver a comprehensive end-to-end micro-mobility management service.
Reflecting on this groundbreaking merger, David Bothwell, the director and founder of Ottr, expressed his excitement, stating: “We at Ottr are now part of something much bigger than we ever thought possible. The team at Ottr should take stock of their amazing work completed, lessons we have learned together, and all in under two years.”
‘Today’ is driving the Mobility-as-a-Service (MaaS) revolution forward, with an initial offering of 1,500 vehicles in Nottingham (England), and currently expanding to Lisbon (Portugal) and Dublin.
Its commercial fleet consists of 8,000 vehicles made up of e-scooters, e-bikes, e-cargo bikes and e-mopeds. They are available for shared mobility operators, delivery companies, universities and consumer brands wanting white label solutions.
For Ottr, joining forces with ‘Today’ enables it to “leverage cutting-edge products, technology, and profitable business models across hardware and MaaS verticals.” This strategic integration safeguards Ottr from seasonality in shared mobility, allowing it to thrive by diversifying revenue streams and driving sustained profitability.
“Profitability is our focus, and covering the entire value chain allows us to thrive without dependency on a single revenue source,” explained Today’s co-founder, Sean Flood.
Looking ahead, the team is already in discussions about bringing more companies under the ‘Today’ brand.
Jobs created as Leicester manufacturer fast-tracks expansion with Growth Hub support
Creating jobs and improving efficiency was always part of the plan for Micro Weighing Solutions (MWS). And the Leicester-based firm turned ideas into outcomes with help from the LLEP Business Gateway Growth Hub.
Support meant that MWS secured funding for a mezzanine floor at its Birstall base – increasing factory capacity by 2,000 square feet and taking on two new staff and an apprentice.
Established in 1998, MWS offers an end-to-end weighing service – design and manufacture, installation, and ongoing maintenance. It has expanded at speed, with recent growth aided by a grant from the Growth Hub.
In 2020, MWS opened a base in County Durham to help service demand from the north. By 2022, it had doubled its capacity. It now aims to continue its growth and relationship with the Growth Hub.
Managing Director, Andrew Clarke, explained: “Expanding our capacity was always part of our long-term plan, as we knew it would open up growth opportunities for us.
“The Growth Hub team was integral in helping us bid for the funding that has since paid for the work at the factory.
“As a result, we have been able to employ more staff, dedicate an area for repairs, and streamline our production process – making it much more efficient.”
The story behind MWS’s growth is one of several that will be told at a special event on June 23, celebrating the success and progress of firms which have been helped by the Business Gateway Growth Hub.
Andrew added: “Leicester is where it all began for MWS. As a company, we are proud that all of our products are manufactured locally with components that are sourced from UK-based partners.
“This is important, both for sustainability and because it also allows us to ensure our products are high quality through closely managing our supply chain.”
The Business Gateway Growth Hub provides free and impartial support for business growth in Leicester and Leicestershire.
It is part-funded by the European Regional Development Fund (ERDF) and delivered in partnership with Leicester City Council, Leicestershire County Council, East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) and the Leicester and Leicestershire Enterprise Partnership Limited (LLEP).
While current ERDF funding ends this month, other support and signposting from the Business Gateway Growth Hub will remain for local businesses.
“The support we have received from the Growth Hub has helped the business develop and grow,” Andrew added.
FHP complete sale of Hockley investment
FHP, acting on behalf of a private family, have completed the sale of 38/40 George Street/22a Lower Parliament Street at a price in excess of the quoting price with the help of Russell Thompson of Massers.
The 3,900 sq ft property has been in the family for many years and is occupied by DG Cars and a Nail Bar at Ground floor with two floors of offices above, one of which is vacant. The current income is £31,900 pa.
David Hargreaves of FHP, who handled the instruction, confirmed a sales price of £425,000 was achieved against the asking price of £400,000, and that from first inspection to completion took just 14 weeks.
Hargreaves said: “We targeted our marketing at both investors and developers alike as the property provided not only a well-established income stream but also had opportunities to add value through the conversion of the upper floors to student accommodation or apartments together with scope to add one or two more floors, subject of course to securing the appropriate planning consents.”
The vendor said: “We are absolutely delighted with the advice from David and his team at FHP, they did everything they said they would, their deep market knowledge and clever marketing generated a lot of interested parties from day 1 and we achieved a price in excess of our aspirations.
“Furthermore the sale was completed a lot quicker than expected – really excellent work by both FHP and Massers.”
Ground broken at Derby Business School development
Construction is underway for the development of the University of Derby’s new Business School, which will provide a facility for cutting-edge research, learning and teaching, and support businesses in the region and across the globe.
The new Business School, which is being built by Kier on land adjacent to the University’s One Friar Gate Square, is projected to be the study base for more than 6,000 students by 2030, supporting the local economy and adding to the vibrancy of the city centre.
To mark the progress of the project, a ground-breaking ceremony was held at the site on Friday (9 June), with guests including the University’s Chancellor Lord Burlington DL, academic colleagues, and representatives from Kier and Derby City Council.
Professor Kathryn Mitchell CBE DL, vice-chancellor of the University of Derby, said: “This new development is ground-breaking for many reasons. The state-of-the-art facilities will not only enable the University to extend its opportunities to undertake innovative and impactful research, but will also enable staff to deliver experiential learning and teaching through co-location and co-creation with businesses, and will become the front door of the University for the business and wider community.
“At Derby, our ethos is on equipping students with the skills and confidence to become gamechangers in their chosen career. As a leading institution for applied research, we recognise the importance of providing relevant activity to industry and the wider world, leading the way in impact from industry engagement.
“We look forward to seeing the project develop and continuing to work closely with key stakeholders to drive the new site to completion.”
The development, which is proposed to be net zero carbon in construction and operation under the UKGBC’s Net Zero Carbon Buildings Framework, kickstarts the University’s City Masterplan, which aims to develop its footprint in the city and improve connectivity across sites.
The new Business School is planned to include facilities such as an auditorium, a stock market financial trading room, a creativity lab, an extended reality (XR) suite and a range of social collaborative study spaces and quiet contemplative areas.
Lord Burlington DL, chancellor of the University of Derby and chair of the Business School Council, said: “The new Derby Business School will provide a place that inspires and encourages enterprise and innovation, where students and expert academics can collaborate, network with, learn from, and support local business leaders and entrepreneurs.
“This is a once-in-a-generation opportunity to make a substantial impact on economic development and social mobility in our region. This is one of the reasons why I agreed to chair the Derby Business School Council, which will help shape our strategy to achieve this.”
As part of the development, Kier will work with the University, local businesses and supply chain partners to create new jobs and apprenticeship opportunities, 25 work experience placements and two graduate opportunities.
Martin Williamson, operations director for Kier in the East Midlands, said: “We are delighted to be working with the University of Derby on this innovative business school in the heart of the city. We will use our extensive experience in the higher education sector to deliver a landmark building that fulfils the University’s ambition to connect students with local businesses and their wider community.”
Pro-Align undergoes buyout
Pro-Align, a Midlands-based supplier of wheel servicing equipment to the automotive industry, has undergone a buyout.
Northamptonshire-based Pro-Align was founded in 1990 and has grown to become the exclusive UK distributor for Hunter-branded equipment in the UK, supplying major vehicle manufacturers, dealerships, and national repair chains.
The transaction sees founders, Paul and Kathryn Beaurain, retire after more than 30 years with the business and transitions control to fellow co-founder, Philip Wylie who has extensive automotive industry and investment banking experience.
Philip Wylie said: “Looking ahead, these are incredibly exciting times for all of us at Pro-Align. We will continue to evolve our relationship with Hunter while also developing our structure, expanding our product range and investing in products and services that ensures Pro-Align remains the number one choice for workshops across the UK.”
Shaf Bheda, Mark Tuckwell and Chris Matthews, of Magma Corporate Finance, provided corporate finance and debt advisory services, with supporting tax advice being provided by Magma’s Liam Meade. Matt Thompson at Howes Percival offered legal advice to the sellers, with James Maynard, Sian Davies and Ashley Simpson, of Knights, acting for the buyer.
Funding was provided by HSBC with Daniel Toone, Simon Richards and Paul Armstrong taking the lead. Stephen McElhone, of BHW Solicitors, offered legal advice to the lender.
“We are delighted to have advised on the buyout of Pro-Align,” said Shaf Bheda, head of Corporate Finance. “This is a significant transaction for the company and we are pleased to have been able to support the transition of ownership of the business. We wish the team all the best for what we know will be a very exciting period ahead.”
Geldards appoint leading public sector specialist
Law firm Geldards has appointed Frank McArdle as a consultant to the firm’s Public Sector team.
Frank joins the team having led South Derbyshire District Council as Chief Executive for 24 years, recently retiring in March after over 40 years of service at the local authority.
He previously held the role of Head of Legal & Democratic Services at the same authority as well as the posts of Director of the South Derbyshire Local Strategic Partnership, Member of the Board of the East Midland Freeport and Chair of the Council’s Equality, Diversity & Inclusion Group.
Commenting on the appointment, chairman David Williams said: “I’m delighted that someone of Frank’s calibre and reputation will be joining our Public Sector team.
“The team have experienced significant success and growth in recent years and Frank’s expertise and insight gained from a 40 year career at South Derbyshire District Council will be invaluable in maintaining that success and reputation as Public Sector specialists.”
Frank McAardle says: “I am looking forward to adding my many years’ experience in local government to the Public Sector team at Geldards.”
