A pharmaceutical company has secured a £140,000 investment package to help it expand.
Biotoolomics, in Consett, County Durham, develops technology for the bio-pharmaceutical industry. Its work in the bioseparation field is being hailed as vital in the development of biomolecule-based drugs.
The company, set up by Dr Chad Zhang last year, provides more than 40 types of products to life science researchers around the world.
With £140,000 of investment to support its work - including a £75,000 grant from regional development agency One NorthEast, a £60,000 loan from North Star Equity Investors and a £5,000 marketing grant from the Centre of Excellence for Life Science (Cels) - Biotoolomics is looking towards expansion.
The company, which is based in the Derwentside development agency's (Dida) Consett Innovation Centre, is planning to appoint a research scientist and general manager and buy equipment.
Dr Zhang said: "This funding gives us the opportunity to move the company on to the next stage. We are developing products for a niche market and it is a competitive area that includes a number of very large companies. We are committed to marketing world-wide and already have distributor networks in Germany, the UK and China."
Philip Aldridge, Cels project director, said: "It is companies like Biotoolomics that will play a vital part in ensuring our region can take advantage of the global opportunities available in a fast-growing market."
Dida chief executive Eddie Hutchinson said: "Biotoolomics is the type of company that will establish Derwentside as a recognised centre for high technology. It is good to see the company expanding and forging ahead with research and the development of its products."
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