Foresight invests £2m in Epistem MBO

Foresight Group has invested £2m to support the management buy-out of life sciences company Epistem from AIM-listed genedrive.

With headquarters in Manchester and additional facilities in the US Epistem provides research services for pre-clinical and clinical development across several specialist areas such as oncology and inflammatory diseases.

Clients include global pharmaceutical businesses, US Biodefence programmes and niche biotechnology companies.

Foresight’s investment, which includes an injection of growth capital, will support the management team’s clear plans for growth, enabling the company to expand its service offering. The business will also strengthen its sales and marketing activities across its international customer base.

Dr Catherine Booth, one of the original founders of Epistem, is leading the buy-out and the investment marks the ninth by Foresight’s North West Regional Investment Fun.

Matthew Pomroy, investment manager at Foresight’s Manchester office said: “Epistem is a prime example of the type of company Foresight likes to support, a differentiated and customer-focused business with market leading expertise.

“Cath’s dedication and long-term involvement, combined with the new expertise from incoming Chairman Dr Nick Ash, gives us confidence that we will see the business go from strength-to-strength. We look forward to working with the team in the coming years.”

Corporate finance firm Bamburgh Capital advised Dr Booth on the terms of the buyout with genedrive and sourced funding support from Foresight.

Dr Catherine Booth added: “We are delighted to partner with Foresight. Epistem has huge potential for growth and development.

"We have a clear list of initiatives for enhancing and expanding the business and are looking forward to meeting all our targets with the financial and strategic support of the team at Foresight.”