Epichem
Epichem provides a range of products and services to the drug discovery and pharmaceutical industries, which enable the discovery and development of new drugs and ensure the quality of existing ones.
Need
Epichem needed finance for a new laboratory with additional equipment to expand its business and target new international clients.
Solution
With our support, Epichem was able to fit out its new laboratory, allowing the business to focus on developing new products and services for export.
Epichem provides a range of products and services to the drug discovery and pharmaceutical industries, which enable the discovery and development of new drugs and to ensure the quality of existing ones.
Founded in 2004, the company operates out of a laboratory in Western Australia's Technology Park, with its clients ranging from small operators to large multinational pharmaceutical companies in over 32 countries.
Epichem is primarily an export-focused business, with approximately 85 per cent of its revenue derived from an international client base made up of many well-known pharmaceutical companies and not-for-profit organisations.
Without the Export Finance Australia loan, I doubt whether we would have had this lab. Export Finance Australia has been absolutely brilliant to work with.
Wayne Best
MD and CEO, Epichem
Growth opportunity
Epichem has strong growth opportunities in a stable global market, however the company’s revenue growth was being constrained due to its laboratories running at full capacity.
This constraint limited the number of chemists that Epichem could employ to work on developing new products and services.
With strong demand for its products and services in Europe and the US, having a new laboratory with additional equipment would allow Epichem to expand its business and target new international clients.
After identifying a suitable building in Perth, Epichem required finance for the laboratory’s fit out.
While Epichem’s bank was supportive of Epichem’s expansion plans, it was unable to provide the finance needed due to a limited risk appetite, and so Epichem contacted us to see if we had a solution.
How we supported
We provided a A$750,000 Export Contract Loan to help Epichem fit out its new laboratory.
Epichem’s new lab is almost three times the size of its previous facility and will allow Epichem to focus on developing even more new products and services for export.