Spark Impact opens office in Liverpool Science Park

18/01/2011

Spark Impact, facilitator of the new £25M Northwest Fund for Biomedical, has opened an office within Liverpool Science Park.

With the fund now open and applications coming in, the leading early stage venture capital company has taken an office in Liverpool Science Park’s innovation centre 1 (ic1), located off Mount Pleasant.

An estimated 40% of the £25M Northwest Fund for Biomedical will be invested on Merseyside, making Liverpool Science Park’s central location and growing presence within the life sciences sector the ideal choice for Spark’s permanent office in the region.

The life sciences sector is already a major contributor to Liverpool’s economy, employing over 4,000 people and generating turnover of around £250M a year.

Work started recently on plans to create 5,000 sq ft of laboratories within Liverpool Science Park’s second building on Brownlow Hill, and comes just months after detailed planning permission was granted for a third building at the city centre site, featuring further R&D offices and fully serviced commercial laboratories.

Spark Impact is part of the Spark Ventures plc which has been operating for 12 years as a specialist in early-stage venture capital, providing equity investment to high growth healthcare companies in the UK and Europe. It currently manages approximately £190 million across a number of investment funds.

Penny Attridge, Investment Director Healthcare at Spark Impact and manager of the fund for the Liverpool Region, said: “We have opened one permanent office in Liverpool Science Park because it is a dynamic facility located in the heart of Liverpool city centre, making it easily accessible to the whole of Merseyside. In addition to this, we have hot desking facilities and meeting room use at key locations around the Northwest.”

Spark is one of a number of new firms to take up space at Liverpool Science Park in recent months. Other new tenants include BioEDEN, the world’s first international biobank for the storage of teeth stem cells, research and development company Dynamic Water Technologies, national IP law firm Pannone and technology and innovation company Venere Tech.

Chloe Young, Business Development Director at Liverpool Science Park, said: “Liverpool Science Park is home to a vast array of knowledge-based companies and we are delighted to welcome Spark and all of our recent tenants to the park. These organisations further enrich Merseyside’s offering and we wish them every success here at the Science Park.”

About the Northwest Biomedical Fund

●The £25M Northwest Biomedical Fund is open to biomedical companies based in, or prepared to relocate, to the Northwest.

● 40% of the fund is going to be invested on Merseyside.

●An estimated 54 businesses will receive investment from the fund.

●Initial tranches of funding for start-up companies (up to £50K) could be awarded six – eight weeks from the initial contact.

●Applications are now being accepted.

For more information about the fund please visit www.thenorthwestfund.co.uk

For more information about Liverpool Science Park visit www.liverpoolsciencepark.co.uk 

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