Commercial ambition
A SEDGEFIELD forensic specialist is seeking a £3m injection to transform its revolutionary technology into a £15m business.
Roar Particles plans to use the cash to fund commercial applications of its unique technology, which can help to identify terrorists and drug users.
The company, which has already attracted private investment of around £1.5m, is hoping to build a market value of up to £15m and float on AIM within 12 months. It is also negotiating agreement with several distributors with access to networks of security experts and healthcare institutions worldwide.
Chief executive of Roar, Mike Pitkethly, said: “Our immediate aim is to secure our position in the forensics market. We are also expanding our portfolio of what we do and exploring applications in other markets such as healthcare.
“Effectively, our technology is a suspect elimination tool, which can narrow down a potential suspect from 100% of the population to 3-4%. Nobody else in the world is using this approach, which will enable police to identify suspects much quicker.”
The technology is currently being trialled in the Scottish Police Force, the Home Office and police forces in Japan and France.
By scanning a fingerprint, the technology can detect whether a person has been handling explosives or Class A drugs.
In addition, by analysing tiny molecules of sweat on a finger the equipment can determine whether or not a person has been using drugs - which could be a vital screening test for athletes at future Olympics events.
It would also help surgeons who need to be sure that a patient has not digested certain substances before undergoing an operation.
Mr Pitkethly said: “Nanotechnology is not a new concept, but in the last 10-12 years scientists have been able to interrogate materials more thoroughly due to sophisticated technologies. A massive proportion of nanotechnology’s potential has to yet to be explored and exploited for commercial use.”
An expert in the application of new technologies, Mr Pitkethly established QinetiQ Nanomaterials Ltd - which developed a range of nanomaterials to fight against viruses - in 2001.
He went on to become chief executive of Cenamps, a national Centre of Excellence for emerging technologies which eventually merged with the Centre for Process Innovation (CPI) at Wilton, before taking over the chief executive role at Roar from biotech specialist Joe Arend.
Housed in the Netpark incubation unit, Roar was founded in 2006 to exploit technology created by toxicology expert Professor Fred Rowell at the University of Sunderland.
