The White Rose Technology Seedcorn Fund fuels technological and medical breakthroughs

The White Rose Technology Seedcorn Fund (WRTSF) has invested a total of £370 000 in two innovative developments in computing and medicine.

Advised by Aberdeen Murray Johnstone Private Equity the WRTSF has made its largest investment to date of £250,000 in Enabled Systems Limited, a company originally spun out of the University of Leeds Innovations Ltd. Enabled Systems are experts in Product Data Management (PDM). PDM systems organise and control access to the mass of product design data used in manufacturing and engineering industries. In order to maximise the usefulness of a PDM system it must be integrated with other software systems used by organisations and their associated companies, such as CAD (Computer Aided Design). These interfaces are currently hand crafted at a huge cost in time and money.

Commenting on the investment, Gerry White, Investment Director, Aberdeen Murray Johnstone Private Equity said:

"Enabled Systems has developed an innovative system that is setting the standard for the future. They have provided a computer solution that will prove invaluable to a multitude of companies, cutting the time and cost of bringing new products to the market. PDM is a rapidly growing market opportunity estimated to be worth $1.75 billion in 1999 (source CIMdata)."

Doug Brady, Managing Director of Enabled Systems, commented:

"We are delighted that we have secured the backing of a very supportive funder. The nature of our venture is such that it needs to be delivered to a mass audience who have yet to realise the huge potential benefits. This level of support will enable us to deliver the 'open standards' system to a global market. " The second investment of £120,000 has been allocated to Professor Paul Walton of University of York. Professor Walton has developed a novel method for cancer tumour detecting, locating and treatment. With this support a new company, Vistatec York Ltd, will be formed to act as a vehicle for commercialising Professor Paul Walton's ideas. Current tumour diagnostics are specific to the suspected type of tumour. The big advantage of Professor Walton's technique is that it will be a general purpose tumour detector/locator giving the opportunity for much earlier detection of tumours and could even potentially be used as a general screening system. A further attraction of the proposal is that it will use techniques and equipment that are commonly available in hospitals.

Gerry White, Investment Director, Aberdeen Murray Johnstone Private Equity:

"Although this project is in its early stage, we are impressed by Professor Walton's credentials and certainly in theory we are confident that the technique has a good chance of success. If this success is achieved it would be an important advancement in the field of tumour detection."

Paul Walton, Professor of Bioinorganic Chemistry at York University:

"This support will enable a theory we have been working on for two years to be researched with a view to bringing the technique into general hospital usage. To date, limited research has been completed in developing the technique but we are confident of achieving the first phase. We have already agreed with medical researchers at Leeds General Infirmary that they will test the new compound. After clinical trials the product would probably take five years to reach the market."

For further information please contact:

Gerry White, Aberdeen Murray Johnstone Private Equity - 0113 242 2644
Doug Brady, Enabled Systems Ltd. - 0113 245 2288
Linda Naylor, Vistatec York Ltd - 01904 435251
Louise Hatch, Penrose Financial - 0207 776 7605

Notes to Editor: Enabled Systems Ltd ("Enabled") was formed by the University of Leeds technology transfer company, Leeds Innovations, as a vehicle to develop ideas in Product Data Management ("PDM") software. Over the last two years the team, who have worked together in the related area of Computer Aided Design ("CAD"), have developed pre-production software components that can be sold in association with consultancy but with further development will be sold as stand alone products with limited installation support.

The White Rose Technology Seedcorn Fund (WRTSF) was set up in 1999 with a £4.5 million award from the Government's 'University Challenge' initiative, to invest in early stage technology generated at the universities of Leeds, Sheffield and York. It is advised on its investments by Fund Managers Aberdeen Murray Johnstone Private Equity.

Aberdeen Murray Johnstone Private Equity
Aberdeen Murray Johnstone Private Equity is the trading name for Aberdeen Murray Johnstone Private Equity Limited, an appointed representative of Murray Johnstone Limited, regulated by IMRO. Murray Johnstone Limited arranges equity finance for expansions, MBOs, MBIs, acquisition finance, refinancing bank debt, rescue/ turnaround, secondary purchase/ replacement capital and occasionally, start-ups.

Investment is in a wide range of industry sectors, primarily in the UK, seeking to invest from £500,000 to £15 million in small medium sized transactions, up to a market capitalisation of £50 million.