Published date: 13 February 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 15 January 2018

Contract summary

Industry

  • Financial consultancy services - 66171000

Location of contract

North East

Value of contract

£18,750

Procurement reference

NCL001-DN313588-15950647

Published date

13 February 2018

Closing date

15 January 2018

Contract start date

1 February 2018

Contract end date

31 December 2018

Contract type

Service contract

Procedure type

Other

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

Magnitude Biosciences intends to be a significant player in the current world-wide endeavor to understand aging and assist companies and academic researchers create new drugs and food additives that promote healthspan (healthspan is the active period of a lifetime). This research field is receiving very significant attention from the investor community. Ageing Research, however, faces a significant practical challenge because to properly assess the impact of a compound on aging and healthspan, very large test populations are required to capture the inherent variability of aging in that population.
An initial investment will enable Magnitude Biosciences to engage with the market to secure a first sale. This achievement would provide the case for a more substantial investment to scale up to a sustainable business. A CEO is therefore required to win the first investment, ensure that all commercial aspects of the business model and company structure are dealt with, and a second round of expansion funding is secured.

Examples of specific tasks for the CEO (not in any particular order) are:

• Review the existing business ambitions.
• Raise investment to fund general business administration, new staff and secure a first sale
• Formulate a sustainable Business Plan for expansion to an off-campus facility.
• Manage sales contracts and customer contacts

Award information

Awarded date

31 January 2018

Contract start date

1 February 2018

Contract end date

31 December 2018

Total value of contract

£18,750

This contract was awarded to 1 supplier.

Durham Enterprise Associates Ltd

Address

11 Lindisfarne Road, Jesmond, Newcastle upon Tyne, NE2 2HE

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Leigh Anderson

Address

Newcastle University
1 Park Tce
Newcastle upon Tyne
NE1 7RU
England

Telephone

+44 1912228618

Email

leigh.anderson@ncl.ac.uk

Website

https://www.ncl.ac.uk