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Kyoob Space Limited
Website: www.kyoobspace.com
Location: Nottinghamshire
Date of first investment: October 2007Amount invested to date:£789,000
Catapult contact: Duncan Cameron
Kyoob Space Limited designs, manufactures, hires and sells premium end portable cabins for the temporary accommodation market. It also sells and hires other more complicated modular buildings (typically used as temporary to permanent buildings in e.g. schools or hospitals). Kyoob looks for long term contracts of large village complexes with premium end customers. The business is growing rapidly and our funding assisted in accelerating investment in its Hire Fleet.
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L3 Technology Limited
Website: www.l3technology.co.uk
Location: Warwickshire
Date of first investment: January 2008
Amount invested to date: £1,057,000
Catapult contact: Graham Mold
The development of sophisticated point of care cholesterol measuring equipment offering laboratory accuracy and precision. The company plans to develop its cholesterol measuring medical devices such that widespread screening programmes become feasible. David George, formerly UK CEO of Chiron Diagnostics, was introduced to the Board of L3 Technology by Catapult.
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Lumora Limited
Website: www.lumora.co.uk
Location: Cambridgeshire
Date of first investment: April 2011
Amount invested to date: £1,040,000
Catapult contact: Ed Wass
Lumora has developed the simplest ever platform for molecular diagnostics based on an innovative signalling chemistry. The technology allows tests to be performed at a single temperature and without the need for expensive optics, hence hardware is uniquely simple and low-cost. Having proven the technology within food safety testing, the company is planning to enter the much larger clinical diagnostics sector which is already valued at $6 billion and has the potential for explosive growth in emerging markets. The company’s development programmes focus on applications which benefit from the robust, affordable, easy-to-use nature of their core technology, such as an integrated testing station for gastrointestinal (GI) infections and an HIV viral load monitoring system to support drug therapy in the developing world.
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Michelson Diagnostics Limited
Website: www.md-ltd.co.uk
Location: Lichfield and Kent
Date of first investment: October 2007
Amount invested to date: £676,000
Catapult contact: Jonathan Earl
Michelson Diagnostics Ltd is developing imaging technology for use during cancer diagnosis and treatment. The device uses optical coherence tomography to provide real-time images of sub-surface tissue at near-cellular resolution without tissue removal - an 'optical biopsy'. This will, for the first time, enable surgeons to see the extent of cancer tissue in situ without the need for surgical biopsy thus ensuring that all traces of tumour are removed.
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Monica Healthcare
Website: www.monicahealthcare.com
Location: Nottinghamshire
Date of first investment: May 2005
Amount invested to date: £1,176,000
Catapult contact: Jonathan Earl
A spin out company from the University of Nottingham, Monica Healthcare has developed a technology which can successfully monitor the heart rate of an unborn baby for long periods allowing an improved standard of obstetric care for both mother and baby. The technology, which is wireless, allows the mother to be able to move around as normal, something that is not possible with existing techniques such as Ultrasound which require the mother to be immobile next to a large cumbersome unit in a hospital. Another advantage over existing technology is that the technique is non-invasive. The device has achieved CE marking and is available in European markets through the comnpany’s appointed distributors. Paul Harper, formerly a director of R & D for Johnson and Johnson was introduced as Non-executive Chairman by Catapult.
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NanoThericsWebsite: www.nanotherics.comLocation: Staffordshire
Date of first investment: August 2010
Amount invested to date: £600k
Catapult contact: Jonathan Earl
Nanotherics operates in the life sciences sector developing and commercialising innovative technologies and products designed to offer faster, more efficient ways to improve research into genetic disorders. The reason for the investment is the disruptive technology in the field of magnetofection which will allow gene therapy researchers to more effectively transfect genes in the vastly growing market for neuronal cells, SiRNA and other difficult to transfect cells. Catapult has invested £600k as part of a £1.1m funding round to aid commercialisation of the growing product range. Catapult also introduced the Chairman, David George, to the business as part of the deal.
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Oxford BioTherapeuticsWebsite: www.oxbt.co.ukLocation: Oxfordshire
Date of first investment: January 2007
Amount invested to date: £1,720,000
Catapult contact: Jonathan Earl
Oxford BioTherapeutics (OBT) applies its integrated proteomics platform for the discovery and development of diagnostic and therapeutic products. OBT has the world’s largest database of biomarkers for protein based disease. The company is at the forefront of new developments in personalised medicine, being enabled by the mapping of the human genome. The company has developed a unique integrated platform that combines genomic, proteomic and clinical information to accelerate the discovery and validation of drug targets and biomarkers in human beings. The benefits are improved biomarkers for patient selection, drug response and efficacy monitoring, and the integration of diagnostics into drug development and product launch, thereby facilitating more accurate drug development and providing cost and time savings. OBT works closely with Biosite, Medarex and Amgen, with whom it has collaboration agreements for exploitation of this technology. Non Executive Directors on the Board include Elliott Forster, VP of Development at Pfizer, and Jeff Warren, formerly CEO of Bristol & West plc.
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Oxford Cryosystems Limited / Crystallon LimitedWebsite: www.oxfordcryosystems.co.ukLocation: Oxfordshire
Date of first investment: September 2010
Amount invested to date: £600,000
Catapult contact: Ed Wass
Crystallon is the holding company of Oxford Cryosystems Limited, a specialist scientific instrument company. Oxford Cryosystems is considered to be the global market leader in the design and manufacture of low temperature systems and software used for X-ray diffraction. Customers include academic research institutions, such as universities, and research facilities in commercial industrial organisations. Catapult provided the equity funding for a management-buy-out in September 2009 and the senior debt was provided by The Co-operative Bank.
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Probe ScientificWebsite: www.probescientific.comLocation: Bedfordshire and West Midlands
Date of first investment: July 2009
Amount invested to date: £550,000
Catapult contact: Jonathan Earl
Probe Scientific Ltd develops innovative products to solve clinical problems and improve healthcare. The company has developed a product called MicroEye®, a revolutionary device developed to enable continuous blood sampling without removing whole blood. As part of the investment process Catapult introduced Alan Barrell – ex Baxter Healthcare – as a Non-Executive Director; and David George as Chairman.
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Promethean Particles Limited Website: www.prometheanparticles.co.uk
Location: Nottinghamshire
Date of first investment: April 2008
Amount invested to date: Undisclosed
Catapult contact: Ed Wass
Promethean Particles is a spin-out company from the University of Nottingham. They have developed a unique reactor technology to allow unprecedented product control and flexibility in inorganic nanoparticle dispersion manufacture.
Renewable Technical Services Limited
Website: www.rts-international.co.uk
Location: Northamptonshire
Date of first investment: June 2010
Amount invested to date: £900,000
Catapult contact: Richard Bucknell
RTS is an engineering solutions provider, delivering installation, inspection and maintenance services to wind turbine manufacturers, wind farm developers and power generators. The company is at the forefront of an emergent sector of independent support service providers, employing innovative approaches to service the needs of its international clients, and increasingly looking to embed itself as a core long term service partner. David Steventon, previously co-founder of the Top 20 UK FM company, Covion, was sourced by Catapult as Chairman.
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Sight and Sound LtdWebsite: www.SightandSound.co.ukLocation: Northampton
Date of first investment: August 2008
Amount invested to date: £1,700,000
Catapult contact: Duncan Cameron
One of the UK’s leading suppliers of IT products and services for people who are blind, visually impaired or have learning difficulties. Suppliers to customers in local government, corporate, education and consumer sectors a product portfolio which includes electronic reading software, speech output systems, screen magnification displays and electronic Braille displays. Strong growth is anticipated from an exclusive new product in the form of a mobile phone with integrated text to speech and screen magnification features which will offer flexibility and mobility to the blind and visually impaired.
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Silver Lining Solutions LimitedWebsite: www.silverlining.uk.netLocation: Rugby
Date of first investment: April 22 2008
Amount invested to date: £515,000
Catapult contact: Graham Mold
Silver Lining Solutions' software product, 'Skills Manager', assesses, analyses and helps to improves the skills of staff working in call centres and offices. The software helps cut-back on the industry’s annual staff churn of over 30% which is estimated to cost the sector an estimated £2.3 billion in training and recruitment costs, not to mention the resulting negative impact on efficiency. The company has achieved sales with an impressive list of blue chip customers and will use the funding to strengthen its sales and marketing team as well as further product development.
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Synchro Limited Website: www.synchroltd.com
Location: Coventry
Date of first investment: August 2007
Amount invested to date: £1,198,000
Catapult contact: Graham Mold
Synchro provides software solutions to the construction industry that uniquely enable project managers to literally visualise their construction site in 3D at any point during the project in conjunction with the plan and schedule. The software allows team members to simulate different construction scenarios and to immediately visualise the impact in virtual reality, thereby optimizing the delivery plan. The benefits of synchronising design and planning are that it increases industrial performance, decreases risk, shortens decision making and delivery times and reduces costs. The business has sold its solutions to household-name construction firms and has leading industry figures as investors, Chairman and chief executive.
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Systems Integration (Trading) Limited Website: www.siltd.co.uk
Location: Staffordshire
Date of first investment: March 2009
Amount invested to date: £250,000
Catapult contact: Graham Mold
SI provides a full suite of software products principally for the meat processing industry, increasing yields (and therefore profitability) as well as traceability. SI is an established business with c.40 customers, mostly in the UK and N America.
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Turbine Efficiency Ltd Website: www.turbine-efficiency.com
Location: Lincolnshire
Date of first investment: December 2003
Amount invested to date: £500,000
Catapult contact: Graham Mold
Turbine Efficiency provides maintenance and service contracts supporting sub 10MW combined heat and power gas turbines (typically ex Alstom turbines). These Turbines are usually installed in large factories or other similar installations such as Oil Rigs and Hospitals. Typically they provide a monthly maintenance contract and a full overhaul every 3 years currently. The company also undertakes efficiency monitoring work. Turbine Efficiency has an overseas operation in Argentina and sells to customers throughout the world. Stephen Saltaire, formerly of 3i plc, was introduced to the Board of the company by Catapult.
UK Gear LimitedWebsite:www.ukgear.comLocation: Coventry
Date of First Investment: December 2009
Amount Invested to date: £1,125,000
Catapult Contact: Richard Bucknell
Catapult Venture Managers completed an investment of £1.125m into UK Gear, who have developed a range of high performance running shoes. UK Gear is increasingly recognized as a leading manufacturer of high performance footwear and apparel and has built up a powerful reputation as a pioneer of innovative and technologically advanced fitness products. It is the only running shoe in the world to have
earned the right to carry the British Army's famous crossed swords insignia. The company supplies trainers to UK Army recruits, as well as the US Army and US Coastguard. As part of the transaction Mike Tomkins, formerly CEO of New Balance and M and M Direct, has joined the board as Chairman.
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Warwick Effect Polymers LimitedWebsite: www.warwickeffectpolymers.co.ukLocation: Warwickshire
Date of first investment: March 2009
Amount invested to date: £800,000
Catapult contact: Graham Mold
WEP exploits Living Radical Polymerisation to produce novel polymers under commercially viable conditions for the biosciences, materials and specialty chemicals industries. The WEP technology is a platform technology which allows the controlled production of a variety of polymers with substantially more complex architectures and a wider range of properties than is possible with conventional polymerisation methods.
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Whelan Refining LtdWebsite: www.whelanrefining.co.ukLocation: Staffordshire
Date of first investment: May 2006
Amount invested to date: £287,000
Catapult contact: Ben Bolt
Whelan Refining recycles used fuel oils for blending into new product. This process reduces the levels of new oil required, provides cost benefits for customers and ultimately reduces carbon emissions. The Board of the company includes Anthony Ross from Bridges Ventures, with whom Catapult have co-invested.
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Yospace Enterprises LtdWebsite: www.yospace.comLocation: Middlesex
Date of first investment: August 2010
Amount invested to date: £600,000
Catapult contact: Ben Bolt
Yospace is an established mobile applications innovator and platform provider. Their latest product, a Software as a Service (“SaaS”) offering, is a technology for delivering video to mobile devices, enabling publishers of online video to offer this same content within their mobile offerings. With the internet and mobile worlds continuing to converge, Yospace is at the forefront of a market set to grow rapidly, driven by publishers’ desire to monetise their content and the demand from consumers to access rich content on an increasing variety of mobile platforms.
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ZinwaveWebsite: www.zinwave.com
Location: Cambridgeshire
Date of first investment: February 2010
Amount invested to date: Undisclosed
Catapult contact: Duncan Cameron
Zinwave provides in-building wireless active wideband systems. Using its unique wideband technology, Zinwave provides a single system solution for all wireless services, allowing guaranteed unified indoor coverage at lower capital expenditure and running costs. The company has generated impressive sales traction, with a reference base of prestigious sites and a number of newly secured sales channels. Catapult joins a strong existing investment syndicate including Scottish Equity Partners, Atlas Venture and SEB Venture Capital. The recent funding round is to support manufacturing expansion and further US and Asian sales growth. Geoff Finch, formerly Board director at BT, was introduced to the Board of Zinwave by Catapult.
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Zysis Limited Website: www.zysis.com
Location: Nottinghamshire
Date of first investment: September 2007
Amount invested to date: £330,000
Catapult contact: Jonathan Earl
Zysis is a drug re-formulation company working on products offering significant advantages over existing treatments in the field of the Central Nervous System. Drug makers are increasingly turning to re-formulated products to prolong the lifecycles of their top sellers and to protect against the impact of generics. The funding is to take the company’s products through Phase 1 clinical trials and subsequent licensing. Directors of Zysis include Russell Pendleton, Dr Ian Wilding and Peter Cozens.
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Atlantic Link
Website: www.atlantic-link.co.uk
Location: Nottingham
Date of Catapult’s first investment: September 2008
Amount invested : £500,000
Exit Date: 18th February 2010
IRR: 42%
For more information contact: Jonathan Earl
Catapult Venture Managers are pleased to announce the acquisition of Atlantic Link by Kaplan IT Learning. Atlantic Link, based at Nottingham Business Park, was established by a group of entrepreneurs seven years ago and is now the world’s leading provider of collaborative rapid e-learning authoring software. This software enables users to design and deliver professional on-line training to thousands of employees. The company’s UK clients include BT, Waitrose, Daimler Chrysler as well as financial institutions HSBC, Santander and Barclays.
President of Kaplan IT Learning, Brian Sholly, said: “We are very excited to join forces with Atlantic Link. This rare opportunity will allow Kaplan to expand our market presence and offer a much large selection of products globally.”
Catapult supported Atlantic link with a £500k investment in 2008. Investment Director Jon Earl commented “Catapult invested in Atlantic Link as it was a business which we recognised had not only the ideas but the passion to deliver revolutionary products into a market used to seeing innovation, and we are delighted to see this realised through this successful sale. This is the first exit from our Catapult Growth Fund, launched in 2007, and delivers excellent returns with a minimum IRR of 42%.”
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R5 Pharmaceuticals
Website: www.r5pharma.com
CATAPULT ACHIEVES ITS SECOND SUCCESSFUL EXIT IN 2010, WITH THE SALE OF R5 PHARMACEUTICALS TO AESCIA PHARMACEUTICALS
Following its successful exit from Atlantic Link in March, Catapult is delighted to announce its second successful divestment of the year. Catapult made its initial investment in R5 Pharmaceuticals in December 2006 during the company’s start up phase, recognising the market opportunity and the ability of the management team to deliver on its strategy. Since this time R5, based in BioCity in Nottingham, has grown to become a leading developer and manufacturer of medicines and materials for phase 1 and phase 2 clinical trials.
Jonathan Earl, who led the transaction for Catapult, comments: "We are delighted to have been able to contribute to the success of R5, and to ultimately deliver an excellent return on our investment with a minimum IRR of 48%. The progression of the business to this successful sale is a reflection of the competency and dedication of the management team, and I am sure that this success will continue under the ownership of Aesica Pharmaceuticals."
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