Nutraceuticals company responds to virus challenges
The third week in March, we were asked to stop working by a major client, as they took a hit at their factory in northern Italy. We had to find a new revenue stream quickly.
Fortunately a couple of former clients needed project work, just as the Covid-19 epidemic took hold in the UK. Cash flow picked up along with government incentives, and grants.
The healthcare industry is buoyant, and a number of inquiries came in, despite the lockdown and the lab being temporarily closed.
As a consequence, one project landed and another is in the closing stages. We are instrumental in a project to help the produce growers in Lincolnshire, working alongside the University of Lincoln's National Centre of Food Manufacturing in Holbeach. We are also involved in another pharmaceutical product development with the University's School of Chemistry. Early models show it is having an effect on cancerous tumours in mice.
The lab is getting a small revamp to accommodate the projects and we have been approved by Lincoln City Council and ISO for quality. All in all improving from a bleak start to a springboard of new projects.
Eric Hilton, CEO, Nutrapharma
Lincoln Science & Innovation Park