Epichem

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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.

 

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. Martine Keenan, CEO of Epichem

"The second loan has really enabled us to build up our capabilities and bid for work in a positive manner, rather than being concerned that we are taking on too much. We are now up to 28 people and running four key business areas on the back of having the additional facility from Efic,” said Martine.

Epichem held a celebratory event to officially open the new laboratory and dedicate it to two local professors from the University of Western Australia (UWA).

“It was really an opportunity to thank our network of friends and collaborators in Perth who have been instrumental in helping us to be successful, and our chance to honour the careers of two local academics. We try and hire local PhD graduates in synthetic chemistry to support this discipline in WA.

“I think we’re quite unique in being able to offer these types of specialised jobs. It was a celebration of all of that as well as graduating to a medium-sized enterprise and having the capability to do more,” said Martine.

Martine explained that the future for Epichem is about maximising the opportunity the new lab has provided, “Long-term there is an opportunity for more growth. We need to consolidate what we have now and continue to build demand. The best is yet to come.”

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