MSIF Funding Helps Innovative Technology Company Expand into U.S.

27th November 2007

A company which has developed revolutionary products to help clinical scientists around the world combat cancer and other genetic-related diseases is expanding with backing from Merseyside Special Investment Fund (MSIF).

Genial Genetic Solutions Limited develops innovative equipment technology and techniques to enhance the analysis of different sample types for genetic syndromes, including cancer and amniocentesis testing. The equipment allows scientists to automate processes which previously could only be undertaken manually. This benefits both the patient and laboratory by significantly reducing testing turnaround time and improving diagnostic accuracy.

Genial was founded by managing director Lawrence Crees in 2001 and he now runs the company with co-director Colin Christie. Between them they have vast experience in delivering goods and services into genetic testing markets, having spent the majority of their careers in this industry. The company is currently in the process of relocating from Runcorn to Wirral.

The company has raised a funding package of £440k which includes a £150k loan from MSIF's Small Firms Fund, directors' own investment and support from RBS.

Mr Crees said: "Our products include the groundbreaking MultiPrep range of systems which separate cells of genetic interest from surrounding normal cells and prepare them for subsequent genetic analysis. This process can be difficult to perform and is extremely labour-intensive and costly to undertake manually. Automating the process generally improves the quality of the sample for analysis which can also prevent having to retake the sample. This avoids unnecessary distress for the patient or being unable to due to disease, treatment staging or length of pregnancy term."

"We needed to move to larger premises to support our expansion plans and we are delighted to be moving to the Wirral. All Genial products are designed and manufactured on Merseyside so it was a natural move for us to base ourselves here."

"Our products are sold in 40 different countries including the U.S. where we are particularly looking to expand. The funding from MSIF will enable us to commercialise our latest product in the States which is a huge market opportunity for us."

Paul Humphray, investment manager of MSIF's Small Firms Fund said: "This company is in the process of putting Merseyside on the map across the globe as a leader in technology and innovation in its markets and we are delighted to be supporting them."

Genial's turnover is currently £1.5m and it is predicted to reach £8m in three years. The company currently employs 20 staff and is expected to rise to 50 over a three year period.

For more information about Genial Genetics visit www.genialgenetics.com

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Picture shows L-R – Lawrence Crees (Genial) Paul Humphray (MSIF)

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