A North East skin care company is hoping to make it big after winning friends and securing financial backing on the TV show Dragons鈥 Den.
Nursem, which was set up by husband-and-wife team Jonny and Antonia Philp three years ago, has developed a hand cream that treats contact dermatitis, a condition suffered by many NHS workers due to the number of times they are required to wash their hands while at work.
Mrs Philp is herself a former nurse who suffered the condition, and Nursem has pledged from its beginnings to donate products to NHS staff with every order received.
The company set up with a crowdfunding drive in 2018 and now has its products stocked in Boots and Lloyds pharmacies.
The couple - who went into the den hoping to get finance from all five dragons - initially pitch for 拢75,000 in exchange for 1.5% equity in their firm.
That pitch values the company at 拢5m, but with huge growth in sales from 拢142,000 in 2019 to a forecast of 拢1.5m for 2020, the Philps win over all of the Dragons.
After receiving offers from all five dragons - including North East entrepreneur Sara Davies - the couple bargain down the offers to 拢75,000 in exchange for 5% of the company, reducing to a 3% stake once they have received their initial stake back.
After discussing all five offers, they accept the bid from Tej Lalvani, CEO of the 海角视频鈥檚 largest vitamin company Vitabiotics, after forcing what host Evan Davis calls 鈥渙ne of the most impressive equity climbdowns in Dragons鈥 Den history鈥.
Mr Philp says: 鈥淪eeing the likes of Peter and Deborah, your natural inclination is to want to take their offers because they鈥檙e the ones you know the best.
鈥淏ut we did our homework before went in and we knew all about Tej鈥檚 business. I think he鈥檚 precisely the kind of person to take us forward over the next few years.鈥
