Leeds spinout Escubed has gone into administration having racked up payable debts worth $255,100 by the end of July 2017.
Escubed, a UK-based particle engineering services spinout from University of Leeds, has entered administration with the loss of all 10 jobs at the company, Business Desk has reported.
Founded in 2007, Escubed offers services such as quality control, research and development and patent protection to the particle science and engineering industry. Sourcing appropriate particles and compounds is integral to industries such as pharmaceutical and cosmetics.
Escubed was co-founded by CEO Simon Lawson, who served as Leeds’ director of enterprise and knowledge transfer for 14 years between 2000 and 2014.
Lawson’s founding partners included Simon Biggs, who became a senior deputy vice-chancellor at University of Western Australia in February 2018, and Susanne Patel, a former lead technician in the Faculty of Engineering at Leeds.
The company was placed into administration under Rob Adamson and Mark Ransom, partners in the restructuring department of accountancy firm Armstrong Watson, on June 19.
Escubed has not publicised any funding rounds previously, however it had debts of $255,100 due within one year as of the end of July 2017, according to a securities filing.
