Microbiology services provider NCIMB Limited has received £1.7m in investment to accelerate growth in its core microbiology and strain licensing services.
The Aberdeen-based firm, which is the owner of the UK’s largest industrial, food and marine bacterial culture collection, has secured the funding from the Investment Fund for Scotland, managed by Maven Capital Partners and the Scottish National Investment Bank.
The Maven team was first introduced to the MedTech at an IFS Roadshow in Aberdeen, hosted by the British Business Bank.
NCIMB provides microbial identification, testing and safe storage services and supplies bacterial stains from its globally recognised collection for commercial and academic use.
The business services customers operating in a number of industries, including pharmaceuticals, biotechnology, food & drink, energy and environmental sectors from its laboratory facility in Aberdeen.
Investment will also be used to broaden the company’s service offering to include the selection and development of bacterial strains in its collection for specific customer applications.
“I am delighted that NCIMB has secured this investment from Maven and the Bank. The funding is transformational for the business, allowing us to scale in the Northeast of Scotland and better support our customer’s needs in life sciences,” said Edward Green, CEO at NCIMB.
“In addition, it allows us to deliver our long-term vision to deploy our unique microbial platform to deliver impactful biotechnology solutions addressing grand societal challenges including decarbonisation, climate change, food security and healthy living.”
David Milroy, partner at Maven, added: “NCIMB is globally recognised for its culture collection and for delivering high-quality microbiology services and is uniquely positioned to meet growing market demand for Contract Research Organisation’s (CRO) with deep domain expertise.
“This investment will allow the company to scale its commercial operations, expand its licensing business, and enhance its service offering to customers worldwide.
“We are delighted to join the team at this point in the company’s journey and look forward to helping them further scale the business.”