A Durham lighting manufacturer snapped up a North Yorkshire business in moves to expand both companies’ market share.
Artech Lighting, based in Durham City, has acquired Powerlite Fitzgerald, a top lighting firm in North Yorkshire for an undisclosed amount, in a deal that completed this week. The transaction marks a significant milestone for the businesses, bringing the two modern lighting manufacturers together to boost their combined market share, secure growth and create skilled jobs.
Artech delivers lighting solutions to customers around the world, from the 海角视频 to the UAE, which are all designed, developed and manufactured at its Durham base, while Powerlite Fitzgerald has grown a strong share of domestic markets for the last four decades. Stuart Hylton, managing director at Artech Lighting, said the deal strengthens Artech and Powerlite Fitzgerald’s positions in the industry, whilst preserving the foundations on which both businesses were built. They will continue to operate independently.
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Mr Hylton said: “This is exciting for both Artech and Powerlite Fitzgerald, and we’re proud to be custodians of these industry disrupters. Both companies have solid foundations rooted in the industry, but this partnership allows us to build on our successes, increasing investment and opportunity for both parties, whilst continuing business as usual independently.
“When the opportunity to invest in Powerlite Fitzgerald came along, it immediately made sense. Both are prominent names in lighting, and ones I’ve known since the start of my own career, so it’s come full circle to now be custodian of these recognised brands and this fantastic organisation."
Tyneside IT company Synergi has been sold to managed services provider Brightsolid, part of the DC Thomson group, in an undisclosed deal.
The Gateshead-based provider of artificial intelligence, automation, business applications, cloud security and managed services will continue to trade under its own name. Directors at the 59-strong firm, which operates out of offices at The Watermark development on the banks of the Tyne, say the deal follows previous approaches from would-be buyers.
Synergi was founded in 2013 by businessman Peter Joynson, who was previously a director at leading IT firm TSG and prior to that ran Team Valley-based financial software business Joynson Ltd, which was acquired by TSG. The business has charted growth over recent years and has built up a client base including top names such as Princes, NHS Highland, Arriva, Lothian Buses and Scottish Fire & Rescue Service.
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Synergi co-founder and CEO Mr Joynson said: “Whilst we’ve been approached by buyers previously, we feel that the alignment and cultural fit Brightsolid provides make them a truly perfect match – a great bunch of positive, friendly and very smart people. Brightsolid specialises in cloud, colocation, cyber resilience and business continuity, so there are going to be lots of opportunities for us to work together to grow both companies, helping us meet our ongoing commitments to the business and our combined future success.”
North East pharmaceutical firm Shield Therapeutics has signed a deal which will see it break into Japan - the third biggest market in the world.
The Gateshead commercial stage drug business, which specialises in iron deficiency, has entered into an exclusive licence agreement to sell its lead product Accrufer with Vital-Net. The company’s lead drug is sold as Ferracru in the 海角视频 and Europe, and Accrufer in other global markets.
Vital-Net will carry out and be responsible for all costs related to activities needed to achieve marketing authorisation and commercialisation of Accrufer in Japan. Shield will receive an initial payment of around $665,000 and is eligible to receive additional milestone payments related to the regulatory approval of Accrufer, as well as when specified net sales targets are met by Vital-Net. For the term of the agreement, Shield will also receive double-digit royalties on net sales of the drug.
Anders Lundstrom, chief executive officer for Shield, said: “This partnership aligns with our commitment to keep expanding our global footprint for Accrufer in Japan, the third largest pharmaceutical market in the world, is an important market to enter as Iron deficiency is a prevalent health concern in Japan, especially among women, children, and the elderly. Accrufer offers a new option for those who need a more effective treatment to restore their iron levels and improve their overall health. We look forward to working together with Vital-Net to making Accrufer available to the people of Japan.”
Tyneside biotech business Atelerix has struck a deal which will see it break into one of the world's biggest life science markets.
Newcastle University spin-out Atelerix is revolutionising how cells are stored and transported, having been formed seven years ago by co-founders Prof Che Connon, Dr Steve Swioklo and Dr Mick McLean to disrupt the cell preservation market.
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Based at the Biosphere at Newcastle Helix, the firm takes its name from the behaviours of hedgehogs, which have the genus name Atelerix – in particular the African four-toed pygmy hedgehog that hibernates when the temperature dips below around 20C. The company’s patented hydrogel encapsulation technology allows cells to do just the same.
Now the company has signed an exclusive distribution agreement with MineBio, a leading Chinese supply chain and logistics organisation. Under the terms of the agreement, MineBio will act as the sole distribution partner for Atelerix’s products in China, providing solutions by enabling the storage and transportation of biomaterials, which are essential for drug discovery and pharmaceutical research, without freezing.
Alastair Carrington, CEO of Atelerix, said: “There is a burgeoning demand for high-quality, fresh biospecimens and sophisticated in vitro models in China. Our exclusive distribution partnership with MineBio officially marks Atelerix’s strategic entry into this market, and at an important time where the world is demanding broader access to advanced therapies – cell and gene therapies, for example.
"MineBio’s established customer base aligns seamlessly with our product offerings, positioning us to effectively meet the needs of this dynamic market, and the hogs, myself included, look forward to visiting the region in the near future.”
Bone health specialist Ibex Innovations has secured £2m of investment and says its latest software could change screening for undiagnosed osteoporosis. The Sedgefield-based medtech has secured funding from a range of investors including IP Group, Mercia, North East Finance and Nordson, among others. Ibex CEO Paul Scott said the money will be used to prove the market for the firm's software which integrates with mammography and x-ray machinery to offer early detection of osteoporosis from routine x-rays.
From its base at NETPark, Ibex has launched its Bone Health software in the 海角视频 alongside partners Agfa Radiology. Initially focusing on the domestic market via the NHS, Ibex will later move on to export the system which the firm says has the potential to save the health service millions and prevent nearly 5,000 fractures, which stem from weakening of the bones from osteoporosis.
Dr Sarah Jarvis, a GP, medical broadcaster and chief medical advisor at Ibex Innovations, is calling for an urgent overhaul in how osteoporosis is detected. Despite being physically active and showing no obvious risk factors, Dr Jarvis was diagnosed with severe osteoporosis at the age of 60.
She said: “I've spent years warning my patients about the dangers of osteoporosis, yet the NHS's approach remains grossly inadequate. Many people are diagnosed only after experiencing one or more fractures, and access to essential diagnostic tools like DEXA scans is hampered by long waiting times that vary by region.
"The ideal would be to identify people at high risk before they ever have a fracture – but at the very least, we should be assessing everyone who has had a low impact fracture for their risk of osteoporosis through a Fracture Liaison Service (FLS). Alarmingly, only half of NHS trusts offer this service. This fragmented system urgently needs reform to prevent unnecessary suffering and healthcare costs."
A County Durham firm specialising in tagging technology has sealed a further £200,000 investment to ramp up overseas work.
Sedgefield based PervasID is a global market leader in fixed passive RFID (Radio Frequency Identification) technology. The tech has been around since the Second World War but only worked within a couple of metres of a tag until recently, with accuracy of around 80%. However, PervasID’s TrackMaster can serve up near 100% accuracy at a range of up to 20m.
Now the company has secured the six-investment from Maven Cognition to accelerate the global rollout of its TrackMaster solution, with a focus on US markets. The funding will support PervasID’s continued expansion, helping it to meet increasing demand from major clients in retail sectors while also boosting its research into advanced software solutions in data analytics.
Peter Oram, CEO of PervasID said: “The growth we’ve experienced in recent years is a testament to our market-leading innovation. Our 2024 investment round, which secured over £3m, is already taking the business to the next level as we continue with the global rollout of TrackMaster. We’ll be using this latest investment to continue our growth plans and to maximise the opportunities in the 海角视频 and US where we are seeing fast-paced adoption of TrackMaster.”