Scottish spin-out entrepreneur wins Ernst & Young award

Dr Andrew Mearns Spragg, founder and CEO of Aquapharm Biodiscovery, a Scotland based marine biotechnology company, has been announced as the winner of this year’s Ernst & Young Scottish Entrepreneur of the year in healthcare. The company was spun out of research at St Andrews University in 2000, when he was just 28, using grant money as he completed his PhD and post doctoral research. To date, he has raised more than £6 million in private equity and grant financing.

The awards recognise Dr Mearns Spragg’s entrepreneurial ambition in setting up Aquapharm as well as his pioneering and innovative work in developing new antibiotic compounds derived from the marine microbial environment.

The awards were held on  12 June in Glasgow to celebrate those who are building and leading successful, growing and dynamic businesses. The independent judging panel included leading entrepreneurs and business figures.

Dr Mearns Spragg will now be put forward to represent Scotland in the national finals of the Entrepreneur of the Year 2008 programme. The national award recipients will be announced at an awards ceremony on Monday 6 October in London.

Commenting on his award, Dr. Mearns Spragg said: “I am delighted to have received this award which is a reflection not only on my own passion and belief in the Company but also the commitment and experience of the growing team. It has been an exciting year for us with the expansion of our management and scientific advisory boards and the ongoing development of our novel anti-infective compounds which are derived from marine micro-organisms.”

Aquapharm has a number of compounds in pre-clinical development with a focus on the development of anti-infectives for use against infections such as Acinetobacter baumannii, Pseudomonas aeruginosa and MRSA. It employs 17 staff from its base at the European Centre for Marine Biotechnology, in Oban on the west coast of Scotland.