Efic’s Export Contract Loans have enabled Perth-based Epichem to expand and grow its business, workforce and capabilities.
A provider of products and services to the drug discovery and pharmaceutical industries, Epichem enables the discovery and development of new drugs and to ensure the quality of existing ones.
Founded in 2003, the company operates out of a state-of-the-art facility in Western Australia's Technology Park, with its clients ranging from small operators to large multinational pharmaceutical companies in over 35 countries.
Over 80% of the business’ revenue is derived from an international client base made up of many well-known pharmaceutical companies, biotechs and research organisations.
In 2015 the business had strong growth opportunities, however, revenue growth was being constrained due to its laboratories running at full capacity. After identifying a new building, Efic was able to provide a $750,000 Export Contract Loan to help Epichem fit out its new laboratory.
Fast forward and Epichem’s growth trajectory continues. With a lab that is twice the size of its original lab, more work flowed into the business. This meant additional expansion was required to support existing clients without suffocating the rest of the business.
“We’ve grown on all fronts. Expanding the laboratory has enabled us to grow our workforce, to hire more chemists and to satisfy customer demand. Having a new lab has been an excellent opportunity,” said Martine Keenan, CEO of Epichem.
With an additional $466,000 loan, Epichem was able to expand the lab and bring on more staff.
“Efic’s support has been massively important to Epichem. With the first transaction we needed to leave our old premises and move to a new lab, so without Efic’s support, we wouldn’t have had a business going forward.