Giltech's French connections
When biotech group Giltech Partnership was in talks with French company IMV Technologies, the prospects for doing business together looked highly promising.
Reproductive technologies specialist IMV, however, needed to find out more about Giltech, which develops biodegradable and controlled release technologies using glass and plastics. Unable to find sufficient information on French websites, IMV contacted its local Enterprise Europe Network partner in Normandy for support.
The network contacted Enterprise Europe Scotland, whose information and research team put together a business report about Giltech. Claire Melville, Enterprise Europe Scotland’s Life Sciences specialist, explains: “With the help of our contacts, we were able to write a detailed business profile which covered the company’s background, commercial activity and, in particular, its financial profile and business health. When IMV Technologies read the report, it gave them the peace of mind to go ahead with the deal.”
The two-year agreement is for the development of controlled release and biodegradable applications within reproductive technologies and both companies are currently discussing other opportunities. Giltech’s Managing Director Gillian Watson is delighted at the outcome “We are extremely pleased to have signed this agreement with IMV. In terms of presence in the target market, we couldn’t have chosen a better partner. Work has already started on our first project and we look forward to being able to report positive results later in the year. We are grateful to Claire and her team for the support they were able to provide to IMV during its due diligence process”.
Giltech has since taken part in Brokerage events at Medica, the world’s largest international medical device event, and plans to take part in the Enterprise Europe Scotland's Life Sciences Brokerage event in Edinburgh on February 5th. It also has a technology offer out through Enterprise Europe Scotland and the European network at present.
“Giltech is a very exciting company and we are currently working with them to assist with finding partners through our Brokerage events and direct technology profile promotion,” adds Claire Melville. “They already have expressions of interest and we hope to support more trans-EU partnerships in the future.”