Directors Jim Reid, Chief Executive Officer, and Professor Andy Porter, Chief Scientific Officer, of Haptogen Ltd have won this year’s Ernst and Young Scotland Entrepreneur of the Year Award for Science and Technology.
Jim Reid and Andy Porter were amongst the founders of the company which spun-out from the University of Aberdeen, one of the world’s leading centres in antibody engineering.
Jim Reid provides the company with valuable business skills gained during more than 25 years in the bioscience industry – and Andy Porter’s significant expertise in the field of antibody development provides the hands on know-how.
The Haptogen pair won the Science and Technology Award in recognition of their success in shifting from academia to entrepreneurism and the ability to harness innovative technology and develop it.
The University spin-out specialises in the discovery of antibodies targeted against the smallest of small molecules.
Speaking at the awards ceremony in Glasgow, Andy Porter said: “Haptogen is breaking new ground in antibiotic development. Our approach is totally novel, because we’re using human antibodies to target bacterial signalling molecules rather than targeting the bacteria themselves, so we believe that drug resistance is highly unlikely to develop.
“This is a great honour for both myself and Jim. We are delighted to be the winners of the Science and Technology Award and to win such a prestigious accolade.”
Haptogen was formed in 2002, a time when the challenges of establishing a drug development company were significant. It was the entrepreneurial spirit of the founders which ensured that the company quickly generated revenue without needing to rely on external funding to grow the business. The recent announcement of a major collaborative research agreement with a leading Korean pharmaceutical company to develop novel antibiotics illustrates the success of the company.
Douglas Nisbet, the managing partner for Ernst & Young in Scotland, said: "The success achieved by these entrepreneurs tonight reflects their drive and determination to succeed in their work, inspiring and motivating others around them and making them fitting role models for other businesses to follow and worthy winners for the north-east."
Winners were announced at a banquet last night (Thursday, June 23) at the Hilton Hotel, Glasgow. The national awards will be held in London in October.