D3 investment brings advanced medical testing to Scotland
The company's new investment will create 22 high value jobs located in the Nova Business Park in Glasgow and is being supported with a regional selective assistance grant of £250,000.
The company's expertise in Surface Enhanced Raman Spectroscopy and DNA chemistry has led to the development of products which will be the first in the world to examine single samples of, for example, blood, for several diseases simultaneously.
"Early detection means earlier intervention and better patient care," explained Jim Reid, founder and director of D3 Technologies. "Screening for multiple bacteria and viruses one by one using current methods takes time, something that many patients can't afford.
"This investment will allow us to continue to develop these products, link into a network of clinical test centres in Europe and to continue our excellent working relationship with the research group at Strathclyde University."
Enterprise Minister Jim Mather MSP said: "D3 Technologies' plans to create 22 new research and development jobs is the kind of investment project that will help this Government move towards its aim of increased, sustainable economic growth. I wish the firm every success with this project.
"Regional Selective Assistance, in the absence of tax varying powers, is a scheme which stimulates job creation, enables business to flourish and helps create a wealthier Scotland."
D3 Technologies was originally formed by a team from Strathclyde University's chemistry department and benefited from both Scottish Enterprise's Proof of Concept programme and a Scottish Enterprise/Royal Society of Edinburgh Enterprise Fellowship.
The company, which is now a subsidiary of world-leading metrology and spectroscopy company Renishaw plc, was honoured in January 2008 with a spin-out recognition award at the recent University of Strathclyde Enterprise Awards. The award recognised D3 for its work on trace detection used in drug development, forensic science and medical diagnostics.
Lena Wilson, chief operating officer at Scottish Enterprise said: "The Scottish Enterprise Proof of Concept programme is the envy of universities in the rest of the UK precisely because of successes such as D3 Technologies. The programme helped Strathclyde University to secure one of its biggest ever spin-out investment deals and take innovative ideas from the laboratory to the global market place.
"Through support from Scottish Development International we have helped to retain this cutting edge technology in Scotland and develop a strong commercial partnership with Renishaw. I congratulate D3 Technologies for its success and for developing innovative new products that will help to keep Scotland recognised as a key player in the life sciences sector."
About D3 Technologies Ltd
D3 Technologies Ltd is a fast-growing and dynamic diagnostic company, based at purpose-built laboratories and offices in Glasgow, Scotland. D3 Technologies is a world-leading centre for the exploitation of Surface Enhanced Raman Spectroscopy (SERS) detection. It combines world-class nanometrology expertise from Strathclyde University with unique Klarite® substrate technology. The company is part of the Renishaw Plc group, a market-leading producer of Raman spectrometers and will develop a range of molecular diagnostics products.
The D3 Technologies management team is headed by CEO Professor Ewen Smith. Dr Caterina Netti (director of technology), Professor Duncan Graham (CTO) and Dr Karen Faulds (director of research) spearhead the scientific teams. Jim Reid (director) leads commercial activities.
SERS-based analytical systems deliver outstanding sensitivity, exquisite specificity and rapid, high-throughput analysis for a broad range of applications.
D3 Technologies is developing high-performance molecular diagnostics products using its patented nanoparticle technology. Importantly, the company's Klarite® substrate technology is already providing effective solutions and services in different market sectors. These include security and bio-defence, pharmaceutical, forensic, and general analytical chemistry applications.
About Regional Selective Assistance
Regional Selective Assistance (RSA) is the main national scheme of financial assistance to industry. It provides discretionary grants for investment projects that will create or safeguard jobs in Assisted Areas - areas designated for regional aid under European community law. The scheme is administered by the Innovation and Investments Grants unit of the Scottish Executive. Payment of RSA is made in instalments, typically over several years, provided that job and project expenditure targets are met. The amount quoted above represents the maximum grant potentially payable if the project is satisfactorily completed. Job numbers are based on the firms' forecast at the time a grant is offered, and are subject to change depending on future economic conditions and other factors affecting the business concerned.
For further information on the scheme visit the Scottish Business Grants website.
About Scottish Development International
Scottish Development International works to attract inward investment and knowledge to Scotland in order to help the economy grow. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live, work and do business. It is jointly operated by the Scottish Government and Scottish Enterprise. Its work is guided by the Scottish Government's strategy for economic development in Scotland.