A leading provider of microbiological testing has received a £500,000 loan from NPIF - FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).Daresbury-based Perfectus Biomed Group is a market leader in standard and customised microbiological testing for sectors including medical devices, wound care, disinfectants, and industrial biofilms.
Last year the company underwent significant growth following a merger with a contract research organisation based in Wyoming, USA. This collaboration widened the company’s testing capabilities, strengthened its US customer base and brought together a breadth of industry knowledge.
Perfectus Biomed was incorporated in 2012 by CEO Dr Sam Westgate. In 2020 Perfectus merged with US based laboratory Extherid Biosciences LLC, forming Perfectus Biomed Group. Extherid’s founder, Dr Marnie Peterson, is now the group’s CSO bringing 20+ years of expertise gained in academia and industry.
Last year Perfectus saw another high growth year and has seen consistent growth of greater than 30% year on year since incorporation.
CEO Dr Sam Westgate said: “We provide an outsourced, knowledgeable, testing facility that supports our clients’ product development through high quality experiments that mimic real life situations. Our mission is to improve quality of life through the provision of exceptional, customised microbiological services.”
“NPIF and FW Capital has supported us with two previous rounds of investment enabling us to expand our laboratory facilities twice, adding space and equipment that has allowed major increases both in capacity and range of services offered.”
“This latest investment will be used to grow the virology department. During the pandemic our virology team expanded five-fold, we expanded our knowledge and reacted to the ever-changing COVID-19 situation.
“FW Capital has been exceptionally supportive and professional, taking the time to understand what the business needs and how the investment could unlock further growth.”
FW Capital investment executive Alistair Igo said: “Perfectus is an exciting example of the thriving life sciences sector here in the Liverpool City Region. The company has recently undergone significant expansion and its renowned team continues to innovate and expand its service offering enabling it to tap into new markets.”
“We are really pleased to provide further finance to help Perfectus achieve its huge growth potential.”
Sue Barnard at British Business Bank, said: “Investment and continued business support can play a huge role in driving growth – and Perfectus Biomed is a shining example of this. The organisation’s growing testing facility will bring innovation and skills to the life sciences sector in the Liverpool City Region and beyond.”
FW Capital provides loans of £100,000 to £750,000 to businesses based in the NPIF region with a focus on the North West, Cumbria and Tees Valley.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.