Cresco celebrates funding wins to start 2021

Expert bid writing consultants at Cresco Innovation have had some cause for celebration, starting 2021 by winning more than £6 million in funding for three projects.

The company explained: “This is an incredible achievement, especially considering the challenges we, like so many other companies and business, continue to face during the ongoing coronavirus pandemic. And it is testament to the hard work and dedication every member of the team has shown. We are very proud indeed, and we’re delighted to share this with you because it shows there can be light at the end of the tunnel.”

Cresco successfully supported two projects:

l Project 1: 36-month collaborative

project between a UK SME, a university and a hospital. The project size is £1.5 million and it will develop a medical device for treatment of cancer.

l Project 2: 36-month project

by a UK SME. The project size is £3.9 million and it is a drug development project.

Cresco’s funding successes

The recent Biomedical Catalyst competition had £30 million to support innovative healthcare products, technology and processes. Funding was available between £250k and £4million for projects lasting between 12 and 36 months. Innovate UK received 373 applications and they were able to fund 18 projects.

The company also won just under £1 million for the Foundation Industries call. This win was a collaborative SME-led project to the IETF deployment of energy efficiency technologies in industry competition. This project is supporting the drive to a net zero economy.

Ultimately that’s more than £6 million in total for innovative, exciting and, in some cases, life-saving projects. Jo Derbyshire, Cresco CEO, said:

“We’re just a little company in Loughborough that happens to work all across the UK and Europe. That we’ve managed to win more than £6 million in funding for these three projects is fantastic news, and it’s a real shot in the arm for all of us. We don’t normally talk about our wins but, this year more than ever, we need good news. In fact, good news is essential at the moment! Innovate UK are working really hard to reinvigorate the economy by investing in long-term innovative technology, so to play our part in that is very rewarding. “As a company, Cresco emerged from the Loughborough University enterprise community. We have chosen to remain in Loughborough, with our office based in the centre of the town, because this area is a real hotbed of innovation. That we’re celebrating these three wins so far this year demonstrates that, even though we’re a small company based in a small market town in Leicestershire, our reach is international, and that success can be just around the corner. That is good news worth celebrating, and hopefully offers inspiration to other small companies during these difficult times.”

Funding to support growth at high-achieving healthcare manufacturer

Healthcare manufacturer CellPath has secured a seven-figure funding package to develop an extension of its premises and support its growth plans in both the UK and international markets.

The Welsh company, based in Newtown, is a manufacturer and supplier of consumables, equipment and services to the global cellular pathology sector. The familyrun business has received funding from HSBC UK to develop a 12,000 sq ft extension of its premises, creating a fourth warehouse at its headquarters.

Alongside additional warehouse space, the extension of premises will involve the opening of a new staff welfare facility including a canteen, modern cafeteria area, recreation room plus additional meeting room facilities for the business’ 100 plus employees. In 2016, HSBC UK funded the development of a 10,000 sq ft extension at CellPath’s current site.

BresMed’s new global HQ at Steel City House in Sheffield is the heart of the company’s worldwide operation. Commenting on the move, CEO Nic Brereton said: “I am so proud to be expanding BresMed to these premium premises in the city. The building very much fits with our brand – it’s iconic with a quirky feel and, like us, it dares to be different.” “With more space, we will be able to service more clients across the UK and overseas, ultimately meaning that more patients will be receiving better and The company has come a long way since Nic quicker care.” moved into a one-person office in the city Paul Webber many years ago, adding: “Actually, it was more Joint Managing Director a cupboard! However, it helped me launch the CellPath business.”

“We have great confidence in

CellPath’s growth plans and know this will help the team to successfully increase capacity of the CellNass service and supply products to both the domestic and international markets in 2021 and beyond.”

Jon Higginson

Corporate Relationship Director

HSBC UK The extension will give CellPath additional capacity for its tissue archiving service, CellNass, which provides remote archive management services for specimens and biopsy material for analysis, helping hospitals with limited resources to manage their specimen archives.

In 2020, CellPath quietly celebrated its 50th anniversary of supplying the cellular pathology industry. With biomedical scientists and NHS hospitals making up a large proportion of the company’s customer base, when the COVID-19 pandemic began, CellPath was keen to continue with an uninterrupted supply of essential goods to laboratories, whilst also protecting valued staff. Office staff quickly transitioned to remote working, allowing for more space so that onsite workers could socially distance. CellPath distributed PPE, followed strict hygiene practices, and has been able to continue with both manufacture and distribution throughout the pandemic.

Having ensured that the core operation could continue, the company began to see where it could help with other local efforts. Upon realising there was a local shortage of hand sanitising products and face visors, chemical manufacturing and 3D printing facilities were redeployed to produce essential supplies which were donated to local facilities like care homes, schools and funeral parlours. Building upon this offering, CellPath released hand sanitising products (CelliTizer) and a face shield (CelliVizor) to the market, and also developed a nose clip which allows glasses-wearers to use a face mask without their glasses steaming up.