February 2008
Scottish Enterprise board SE (08)32
Approvals within delegated authority
The following projects were approved within delegated authority during the period 11 January to 14 February 2008. The details are provided below
SCF Investments over £250k
The Investment Team has approved the sum of £400,000 to be invested in CXR Biosciences Ltd by way of ordinary shares. CXR Biosciences Ltd develops new technology platforms for drug development.
SVF Investments over £250k
The Investment Team has approved the sum of £1,000,013.40 to be invested in Elonics Ltd by way of ordinary shares for 16.6 per cent equity. Elonics Ltd specialise in radio frequency wireless chips and this investment will aid their objective to complete development work and launch their first product in Q3 of 2008.
Industries
Life Sciences
Translational Medicine and Clinical Research Opportunities for Scotland (£246,000)
The MD Industries approved £246,000 for a project to explore the development required within IT infrastructure; clinical access and imaging that would make Scotland the location of choice for pharmaceutical and biotechnology companies involved in translational medicine and clinical development.
Food & Drink
Scottish Enterprise Grampian Board approved ongoing funding of £500,000 towards the Scottish Food & Drink Information Service for the period 1 April to 31 March 2010. Funding will be split with Highland and Islands Enterprise on a 70/30 basis, with SE’s contribution totaling £350,000.
Scottish Development International
TalentScotland
The Chief Operating Officer approved an extension to the TalentScotland Programme of £165,000 bringing the total project approval to £960,000.