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For Immediate Release
U.K. biotech company wins competition
for corporate office in Fairfax County BioAccelerator
Fairfax information security company wins space
in U.K. incubator
Fairfax County, Virginia, January 12, 2004—A British biotechnology company that makes products for monitoring the human immune system has won the U.K.-to-U.S. side of the “Touchdown” Transatlantic Business Plan Competition and will take corporate office space in the Fairfax County BioAccelerator. At the same time, a Fairfax County-based information security infrastructure consultancy and services firm won the U.S.-to-U.K. side of the competition and will take space in a university-affiliated incubator near London.
The Fairfax County Economic Development Authority (FCEDA) and UK Trade & Investment (UKTI), the economic development arm of the British Government, organized the competition, which is now in its third year. It attracted seven U.K. biotechnology companies looking to expand to the U.S. and eight companies from Fairfax County eyeing the U.K. and European markets.
ProImmune Ltd, from Oxford in Great Britain will take a place in the Fairfax County BioAccelerator this year and receive customized business development services to help it expand in the U.S. market. The package is valued around $60,000.
4FrontSecurity from Reston, Virginia, will take office space at the Royal Holloway Enterprise Centre, part of the Surrey Enterprise Hub at Royal Holloway College, and receive business development services and administrative support.
Sir Stephen Brown, Chief Executive UK Trade & Investment will award prizes to ProImmune and 4Front Security at a January 28 event at HSBC’s London headquarters.
Gerald L. Gordon, Ph.D., president and CEO of the FCEDA, said, “We are delighted to help these companies expand into new markets sooner through this competition. ProImmune will find a great network of companies, federal agencies and organizations in Fairfax County to help it expand, and 4Front Security is well-positioned to market its products to the private sector in Britain and the U.K. government.”
Dr. Nikolai Schwabe, CEO of ProImmune, said, "We are naturally very pleased at the opportunity, since we will be able to establish a physical presence in the U.S. sooner than we expected. Entering the U.S. market will more than double the potential revenue for ProImmune, and this move heralds an exciting new growth phase for us."
4Front Security CEO and Co-Founder Chris Parker, originally from the U.K., said, “We are delighted to move into the U.K. and European markets. The U.K. and Europe present many opportunities to sell our enterprise information security solutions. The combination of our international expertise and the business development assistance we will receive working with the Information Security Group at Royal Holloway will enable us to accelerate our growth.”
Fairfax County, the technology gateway to the US east coast, is home of more than 4,800 technology companies, including 36 U.K. firms that have chosen it as their North American base.
Joining with FCEDA and UK Trade & Investment this year as competition organizers were the UK Science Park Association, UK Business Incubation, BritishAmerican Business Inc., British Trade International, and the Bio Industries Association. “Touchdown” sponsors in the UK are FCEDA, Cyril Leonard, HSBC, Penningtons, PricewaterhouseCoopers, Taylor Wessing, Virgin Atlantic Airways and the South East England Development Agency.
Background information:
ProImmune Ltd (www.proimmune.com) is a private biotechnology company headquartered in Oxford that specialises in providing quality research reagents for monitoring the condition of the immune system. Proimmune has a wide range of customers from leading pharmaceutical, biotechnology, clinical and academic sectors throughout the world. The company, founded in November 1999 has been profitable since its inception , based on product salews. In addition ProImmune has secured R&D funding from several DTI Smart, EUREKA and EU Framework VI project grants. ProImmune has applied for several patents covering its core technology. The company has recently opened offices in Paris, France.
4FrontSecurity, Inc. (www.4frontsecurity.com) is a privately held information security infrastructure consultancy and services firm, with experience deploying and managing secure IT infrastructures in diverse industries across North America, Europe, Middle East and Africa. Our Security Knowledge Framework, Enterprise Security Management technology and our extensive Security Professional Services provide an integrated business approach to information security and assurance and cost-effective solutions that are tailored to individual customer needs across a variety of industries, including financial services, utilities and energy, law firms, manufacturing, health care and life sciences, professional services firms, and government. Our headquarters are located near Washington, D.C. in the heart of the Information Technology corridor in Reston, Virginia, 10 minutes from Washington Dulles International Airport.
Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) provides a wide array of services and information designed to promote Fairfax County, Virginia, as a leading technology hub and a world-class centre of commerce and trade.
Domestic and international marketing staffs work with U.S. and foreign companies interested in expanding or relocating operations. A market research and real estate division help clients learn more about office space opportunities. The FCEDA also runs a capital attraction program to link entrepreneurs and start-up firms with venture capitalists and angel investors. Another program assists small, minority- and women-owned businesses. The FCEDA has marketing offices in London, Frankfurt and Tokyo. For more information call 001-703-790-0600.
UK Trade & Investment (www.tradepartners.gov.uk) is the British Government's worldwide economic development agency, helping US companies set up in the UK or expand from a British base swiftly and smoothly. UK Trade & Investment's headquarters in the United States is in New York City with regional offices in Atlanta, Boston, Chicago, Houston, Los Angeles, San Francisco and Washington DC; and branch offices in Phoenix and Seattle.
UK Trade & Investment provides information on all aspects of establishing a presence in the UK; arranges site visits; advises on local, regional and national incentives; provides information on the availability of labour, transport, proximity to customers and to suppliers etc; facilitates contacts with key private and public sector companies; and saves potential and current investors valuable management time and costs through its free and confidential service.
Competition Sponsor Information:
BritishAmerican Business Inc (BABi) (www.babinc.org)
BritishAmerican Business Inc of New York and London (BABi is the leading transatlantic business organisation, dedicated to helping its 1,000 member companies build and expand their international business.
BABi provides its members directly with a range of targeted business services focused on business development, business intelligence and networking, and with access to broader business networks in more than 60 other major cities throughout North America and Europe.
BABi incorporates the British-American Chamber of Commerce (New York/London) and the American Chamber of Commerce (UK), which merged in September 2000 to create a stronger transatlantic business organisation.
Cyril Leonard (www.cyrilleonard.com)
With an unbroken tradition of Partnership involvement at all levels of business and proven property expertise in depth, Cyril Leonard & Co, Real Estate Leasing & Broking, is ideally placed to address the challenges of the 21st Century. Drawing on strengths developed over 60 years of successful business practice, the firm continues to offer the very best contemporary advice to private, commercial, industrial and financial clients.
HSBC (www.ukbusiness.hsbc.com)
Headquartered in London, HSBC Holdings plc is one of the largest banking and financial services organisations in the world. HSBC’s international network comprises some 8,400 offices in 81 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
The Innovation & Technology Unit co-ordinates HSBC's support in the UK for early stage technology-based firms.
Such support includes the HSBC Chairs of Innovation at Brunel University and University of York, providing us with an initial appraisal of technology proposals, and Technology Banking Managers in major technology clusters throughout the UK. For further details email innovationtechnology@hsbc.com
Penningtons (www.penningtons.co.uk)
Penningtons is a commercial law firm which provides legal services tailored to individual requirements. We offer a partner-led service with the emphasis on team working. Our aim is to exceed our clients’ expectations in the quality of advice we offer, our speed of delivery, and always to add value to their business.
Our principal office is in the City of London. There are further offices throughout the UK. Penningtons also has close links with law firms worldwide. In this way, we are able to offer flexibility in the scope of specialist commercial and private client services we deliver to a wide range of clients.
PriceWaterhouseCoopers (www.pwcglobal.com)
PwC is the largest firm of accountants, tax and business advisors in the world. They have grown with their clients many of whom started as young entrepreneurial companies and are now household names. In order to help companies with extraordinary potential expand operations internationally PwC has developed its Pathfinder Service. This is a holistic approach to helping companies set-up and grow in an overseas jurisdiction.
All of the above means that PwC is very keen to support both US and UK companies wishing to go from one of these countries to the other and thereafter grow throughout the US/Europe.
South East England Development Agency (SEEDA) (www.seeda.co.uk )
SEEDA was established by the Government through the Regional Development Agency Act 1998, and came into operation on 1st April 1999 to take the strategic lead in promoting the sustainable economic development of the region.
Our mission is to work with our partners to make the South East of England a world class region, achieving sustainable development and enhanced quality of life as measured by economic prosperity, environmental quality and social Inclusion to ensure meaningful employment for all.
Taylor Wessing (www.taylorwessing.com)
Taylor Wessing is a powerful source of legal support for commercial organisations doing business in Europe. With some 210 partners and over 1000 staff based in England, France and Germany, the three largest economies in Europe, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. A market leader in intellectual property, the firm also has a strong market presence in corporate finance, private equity and real estate finance. The firm has an enviable track record in serving knowledge-based and technology-orientated businesses and is widely regarded as one of the leading advisers on inward investment into Europe.
Virgin Atlantic Airways (www.virginatlantic.com)
Whether you’re jet setting to London for the next billion dollar merger or just want to get your groove on in the red-hot London night life, you’ll always fly in style with Virgin. Upper Class®, our enhanced business class, rivals other airlines’ first class service with four free limos, swank clubhouses and lounges, onboard bar, inflight beauty therapy and the new Upper Class® Suite -- with the largest fully flat bed in business class. Premium Economy SM offers a range of perks from dedicated check in and priority baggage handling to wider seats, a separate cabin and personal entertainment. In Economy class you’ll enjoy up to 43 channels of movies, music and video games, amenity kits, choice of meals, ice cream during movies and more. With nonstop service from nine US gateways to London, the Virgin experience is the only way to cross the pond.
British-American Business Association (BABA) (www.babawashington.org)
The British-American Business Association is the premier UK-US business and cultural forum in the mid-Atlantic region. The British-American Business Association has worked since 1987 to foster transatlantic trade links and strengthen UK-US cultural ties. BABA's membership has grown to more than 200 members, and has become the premier forum for British and American business professionals in the mid-Atlantic area.
Through a variety of programs, BABA members exchange valuable information, establish networks, and pursue mutual interests.
Confederation of British Industry (CBI) (www.cbi.org.uk)
The Confederation of British Industry is the UK's leading employers' organization. It represents companies from every sector of UK business: small and large, from manufacturing to retailing, agriculture to construction, hi-tech to finance, transport to consultancy. Membership of the CBI is corporate: organisations and companies are members, not the individuals nominated to represent them. With direct corporate membership employing over four million and a trade association membership representing over six million of the workforce, the CBI is the premier organization speaking for companies in the UK.
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