Business and management consultancy and related services

Tender description

NunaBio Ltd has developed an enhanced DNA sensing platform technology and associated IP that will find application in many market sectors that require increased confidence in the sensitive detection of target DNA sequences. Consumers of diagnostic devices require their device to be sensitive and accurate. While 100 % accuracy is possible, existing approaches require highly trained staff, expensive labs and significant lead time to results. These drawbacks are key drivers for the development of point-of-use devices which aim to support better decision making, reduce cost (social and economic) and time to action. The utility of such devices and therefore consumer confidence in the results they produce is highly dependent on their accuracy. Exemplified by the current Covid-19 pandemic, there is an urgent unmet need for advanced confidence. We are looking for an executive and the initial brief of the executive will be to: 1) Produce a viable 5 year business plan; 2) Obtain university approval for the venture; 3)(a) Act for the company in the spin-out legal process and address all company formation matters; (b) Obtain founder academics’ and Newcastle University (including the Head of Company Creation) approval for appointment as CEO; (c) Provide to the appropriate university all matters necessary for ERDF reporting requirements; (4) Secure (venture capital and other) funding. Newcastle, Durham, Sunderland and Northumbria universities, in common with universities throughout the UK, have advanced relevant systems and procedures and also dedicate significant public resource to both research and commercialisation of that research. A key route to commercialisation is the creation of a new business (a spin-out company) wherein the intellectual property (IPR) developed exclusively licenced to a university start-up company in exchange for (founders) shares in that company. The universities ill engage suitably qualified and experienced executives through the DPS as and when required over the DPS period. The specific requirements will be detailed in each further competition. The initial brief of the executive for which he/she will be paid, dependent upon the scope of the specific project engagement sought, either a payment or a combination of a payment and a share/stock option will typically be to: (a) produce a viable business plan; (b) obtain university approval for the venture; (c) act for the company in the spin-out legal process and address all the company formation matters; (d) provide to the appropriate university all matters necessary for ESIF and Research England reporting requirements; (e) secure (venture capital and/or other) funding in accordance with the business plan.