A Coventry MP gained an insight into the impact a regional Science Park has on the local economy – and heard about the potential for growth for one of its tenant companies.
Zarah Sultana, the MP for Coventry South, was invited to the University of Warwick Science Park’s (UWSP) Venture Centre, to meet senior members of the Science Park team as well as one of the businesses based there.
Mark Tock, Chief Operations Officer at UWSP, and Dirk Schafer, Business Engagement Lead, told the MP how there are more than 130 firms located with the Science Park and how it offers a range of support to companies.
On top of that, the Science Park helps companies to access finance – with more than £5.96 million raised over the course of 2021/22 – and offers opportunities for businesses to work together with students at the University of Warwick.
Sultana then met Nigel Davis and John Burt of Medherant, a cutting-edge medical company that has developed unique TEPI Patch technology that allows a patient to receive drugs via a patch worn on the skin. It recently raised £2.9 million to develop a transdermal testosterone hormone replacement patch for post-menopausal women.
The company is now looking to expand its operations and create more jobs in the region.
Sultana said: “It was great to be able to see some of the amazing work that happens at the University of Warwick Science Park and to get a feel for the kind of cutting-edge businesses that are based here.
“These are exactly the kind of companies and highly skilled jobs that are so important to our regional economy.
“It was fascinating to hear from the team at Medherant and their plans for the future, and I will always do what I can to help our local businesses, workers and communities thrive.”
Mark Tock said: “Earlier this year we published an impact report for the University of Warwick Science Park that shows the positive effect we have on the regional economy as a non-standard real estate company offering impactful business support linked to a University known for innovation.
“It was great to share with Zarah Sultana MP an insight into some of that and also to show a real example of one of the incredible businesses we are home to.
“Medherant is exactly the kind of company that the Science Park was designed for and it is important that they are supported in their next phase of growth.”