Significant investment from LBA “Superangel “ Bruno Deschamps helps cornerstone Solus Scientific’s £700k funding round

30 November 2011

Early stage Glasgow based bacteria detection specialist, Solus Scientific, has closed a circa £700k funding round which included a significant investment by LBA "superangel" Bruno Deschamps, Chairman & CEO of Entrepreneurs Partners LLP and EP Capital Ltd. The company, which presented to the LBA network in December 2010, is commercialising novel intellectual property in microbiological testing for pathogens such as Salmonella and Listeria. The company’s technology significantly reduces food time testing to 16 to 20 hours from 48 hours. The funds will be used to accelerate the commercialisation of the company’s product in the microbiological and food testing market. The company plans to launch the first of a new range of products for the rapid detection of  foodborne pathogens in the Spring of 2012.

Stewart Wallace, Solus Director, comments “Solus met Bruno following the LBA event and was greatly impressed by his knowledge and experience in the food and hygiene sectors. Bruno was very supportive of our business proposition, confirmed his intention to invest and also expressed an interest in joining the Solus Board. We will also work closely with Bruno to develop our global distribution strategy.”

Anthony Clarke, Managing Director at London Business Angels, comments: “I am delighted that experienced LBA angel Bruno Deschamps has invested a significant sum as well as joining the Solus Scientific Board to assist in the development of the company. This is a very good example of the power of angel investing in an early stage company.”

For further information and enquiries: 

Please contact enquiries@lbangels.co.uk

London Business Angels
Anthony Clarke, Managing Director
Tel: +44 (0)20 7321 5672
E-mail: enquiries@lbangels.co.uk
Web: www.lbangels.co.uk

About London Business Angels

LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.

About the LBA EIS/SEIS Approved RoundTable Syndicate Funds

The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years’ experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech).

Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k. The fund invested in 5 leading edge technologies spread across a range of sectors: Camstent (medtech), Momentum Bioscience (medtech), Phase Vision (high value manufacturing), Michelson Diagnostics (medtech), Isotera (cleantech)

The LBA EIS Roundtable Syndicate Fund 2012, closed for subsciprtions on 5th April 2012 at £455k. The fund invested in 6 early stage companies.

The LBA EIS Roundtable Syndicate Fund 2013, closed for subscriptions on 5th April 2013 at £290k. The fund invested in 6 early stage companies.

The LBA EIS Roundtable Synducate Fund 2014 closed for subscriptions at £695k on 4th April 2014. The fund will seek to co-invest alongside London Business Angels in the next 12 months

The LBA SEIS Roundtable Syndicate Fund 2012, closed for subscriptions on 19th October 2012 and will seek to co-invest across 6-7 SEIS eligible deals alongside LBA investors