University-supported firm signs major Chinese deal

A biotech company launched through the University of Edinburgh in 2007 has signed a multi-million partnership agreement with China’s biggest cosmetic and pharmaceutical company, Sinopharm.

Burdica Biomed, which produces a personal lubricant that improves fertilization, expects huge product sales in China with revenues of over £50 million.

The company launched with the aid of the university’s Edinburgh Pre-Incubator Scheme (EPIS), which provided accommodation within the university, as well as business mentoring support and an interest-free loan of £10,000.

Despite being an invaluable aid in helping budding entrepreneurs to achieve success, Adrian Smith, EPIS director, told The Journal: “We support entrepreneurs through EPIS but we don't have a financial interest in the companies. What we hope is that they will flourish, build strong academic and commercial relationships with the University and become customers in the future.”

Sinopharm will apply for regulatory approval and will distribute the products.

The EPIS scheme aims to promote and support innovation by awarding entrepreneurship places, 62 of which have been awarded to date with 48 companies and partnership formed by its successful applicants.

Since being established the scheme has grown rapidly in reputation and provides a significant boost to the UK-wide economy with fresh initiatives continually developing with its support.

EPIS has helped the university to create 26 companies in the last financial year alone, the most formed by any university in Scotland. Adrian Smith has acknowledged the EPIS’s success.

However, future achievements may be affected by the country’s precarious economic circumstances:

“We know the portfolio of EPIS companies are having success in a number of sectors, however EPIS was a project launched in 2004 and is currently funded until September this year.

"The programme itself is wholly public funded so our capacity to support more entrepreneurs in the future will depend on the state of public finances,” said Mr Smith.