Member Profile
TRI Cap Portfolio - Lab901
First Investment May 2005
During 2005 TRI Cap was asked by Archangel Informal Investments to join with a group of investors in providing a £1 million third-round equity funding packages to rising Scottish technology company, Lab901, which has developed the pioneering ScreenTape system, an analytical testing tool for the multi-billion pound global life-sciences market.
Lab 901 has spent three years perfecting the science and engineering behind ScreenTape and, having begun to secure commercial contracts, is making good progress towards its revenue target of £20 million over the next four years.
The latest £1 million tranche of funding was led by long-time backers Archangel Informal Investments, joined by the Scottish Enterprise Co-Investment Fund, Ashleybank and Tri Capital.
September 2009
TRI Cap joins with a number of UK investors to provide a further £2.5 million in equity for Lab901. Other funders were Archangel Informal Investment Ltd, Alliance Trust Equity Partners (ATEP), Scottish EnterpriseSVF and Foresight 3 VCT plc. Lab901 will use the cash injection to expand international sales of its ScreenTape® laboratory analysis platform and further develop its product range.
August 2009
During 2005 TRI Cap was asked by Archangel Informal Investments to join with a group of investors in providing a £1 million third-round equity funding package to rising Scottish technology company Lab901, which has developed the pioneering ScreenTape® system, an analytical testing tool for the multi-billion pound global life-sciences market.
Lab 901 spent five years perfecting the science and engineering behind ScreenTape® and, having begun to secure commercial contracts, is making good progress towards its multi-million pound revenue targets.
June 2009
At the Advances in Microarray Technology (AMT) congress in Stockholm, Lab901 unveils its new ScreenTape R6K product for rapid sample Quality Control (RNA QC). Generating results in as little as 1 minute per sample, ScreenTape R6K extends the use of Lab901’s existing bench-top TapeStation® instrument, which has already started to make a global impact.
TRI Cap Contact: Douglas Needham
Lab901 Contact: Joel Fearnley
Number of TRI Cap Investors: 13
Lab901, Unit 51, Imex Business Centre, Bilston Glen, Loanhead, EH20 9LZ
t:+44 (0)131 448 2904
e: jfearnley@lab901.com