E-Synergy Completes its First Investment

30 October 2001

E-Synergy Limited completed its first investment on Friday 19th October in NCIMB Limited. A spin-out from Aberdeen University with new management, NCIMB hold valuable microbial culture collections and is developing a bioinformatics knowledge system focussed on industrial applications in a number of sectors, such as Pharmaceuticals, Food , Bioremediation, Oilfield processes and paper processing. Microbial genomics has attracted less media attention than human genomics but is an area of huge future significance. More than 60% of the worlds biomass consists of microbial species and less than 1% of them have been discovered. Very few of those discovered have been fully characterised. There is a rising number of applications and a growing need for organised knowledge systems in this area that are commercially available. This will be a key area of technology in the future. The intelligent use of natural bacteria provides new and environmentally friendly solutions to a range of difficult manufacturing and engineering problems as well as offering a new means of novel drug discovery

Dr Stevenson, E-Synergy chairman said; "The network of support from AIRTO member laboratories that we can make available to new ventures like NCIMB is very powerful and should assist growth in the early stages. The combination of experienced successful biotech entrepreneurs with clear vision, management skill and Aberdeen University Technology is a powerful combination. We hope to complete several further investments in key areas of technology in the next few weeks"

Dr Allan Syms NCIMB CEO said "We are delighted to have secured the first phase of our financing from E-Synergy. NCIMB is a centre of excellence for identifying and characterising microbes and with this new finance the company intends to build on its international reputation to become a global leader in microbial bioinformatics"

Dr Steve Minter NCIMB Chief Operating Officer said "This new funding will enable the company to commence its high throughput screening and bioinformatics knowledge system programmes. We are a next generation biotechnology company which will provide commercially viable processes and products"