Peter Wrighton-Smith
Peter is Oxford Immunotec’s founder and CEO. The company was founded in 2002 on academic research conducted at the University of Oxford into a new way of diagnosing and monitoring disease, based on looking at T-cells (the other half of the immune system to antibodies). The company’s first product, for the early diagnosis of TB, is now FDA-approved and is available in over 60 countries. This product addresses a global market exceeding $1bn and the company’s revenues are growing rapidly as it progressively replaces the incumbent 100-year old test.
On meeting Spark....
“When we first went to raise money, we were 4 people in a portakabin with an idea, some early feasibility data and a big vision. Spark, under the Quester funds, were one of the only investors who were able to see what the company could become; not what is currently was. They treated us with respect rather than cynicism.”
On the first funding....
“Before investing Spark conducted extensive due diligence on the company; this was our first experience of such detailed scrutiny and it was very useful in increasing the professionalism of the company in many areas. However when they had completed their diligence and come to a judgement about the company’s prospects, they had the courage to trust their judgement. They led the investment on their own without seeking to hide within a syndicate of investors. They earned a lot of respect in my book because of that.”
On the relationship....
“As every entrepreneur knows; there will be some ups and some downs as you grow any successful business. However, it is when you hit the unexpected difficulties that the character of your partners are really tested. Spark really stepped up to the plate in our hour of need. Their support at this critical time has helped us transform the business for the better”.