Pegasus Equine Diagnostics gains £200,000

A new company which has developed a test to help sick horses has gained backing


A company which has developed a test to that can be used to diagnose serious illnesses in horse has received £200,000 of investment.

Pegasus Equine Diagnostics (PED) is led by Sue Haritou who set up the company after her own horse became ill.

The Nottinghamshire-based business then gained £10,000 from the East Midlands Development Agency for £10,000 and proved its concept worked.

She said: “PED was formed because I could not find a commercial lab which would provide the tests my horse needed to recover from Cushing’s syndrome,” says Haritou.

“EMD’s initiatives have helped us greatly in making what originally “cured” one horse into a commercial reality for others.”

The company has now received backing from the East Midlands Early Growth Fund, managed by E-Synergy Ltd and funded by EMDA and says it has the potential to be taken up by over 1,300 veterinary practices in the UK.

Jonathan Lowe, EMDA’s head of investment, said: “Pegasus is a unique company which shows real commercial potential, and such innovative businesses are vital to the economic prosperity of Nottinghamshire and the wider region.

“I’m delighted that the Early Growth Fund has helped another SME to overcome barriers to growth and I wish the company every success in building on its scientific excellence in the future.”

© Crimson Business Ltd. 2007

Comments

(will not be published)