10:17am Tuesday 24th June 2008
A CHEMICAL consultancy is expanding as it looks to put North- East expertise at the forefront of global development.
LyraChem - a Durham University spin-out company that brings together Durham and Newcastle universities - has secured investment to assist its growth plans.
Led by Dr Carl Thirsk, LyraChem delivers a range of products and services to companies in the pharmaceutical and fine chemical sectors, helping them to speed up chemical process development and achieve better manufacturing processes.
Since it began trading with three people in 2006, the team has expanded to ten to cope with new business and increase commercial opportunities.
Backed by Three Pillars Fund investment of £130,000, and additional investment from its members, the company has relocated to facilities in Newcastle University.
Dr Thirsk said: "We aim to bridge the gap between chemistry and chemical engineering. We identified a gap in the market - particularly among smaller firms - and with the unique skills, expertise and technology LyraChem can offer here in the North-East, there's a real opportunity to achieve commercial success."
Dr Amanda McMurray of NStar, which holds an equity stake in the company, said: "The LyraChem team offers a unique skills set with the opportunity to make a big commercial impact in the UK and beyond."
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