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Bioteck Company Grows Faster with the Help of SBA Programs
Hevré Le Calvez, Ph.D., Founder and CEO, of Abbiotec, LLC, a biotech company developing life science tools for the research market, started his business in 2007. He was well prepared with a Ph.D. in Cellular Biology and Microbiology (1994) and several years of research and biotech experience, with companies such as The Burnham Institute, Active Motif, LLC and Abgent, Inc. However, he decided he could use some help on the business side, so he sought guidance from SCORE - Counselors to America’s Small Business. The counselors at SCORE helped him to set-up the business, provided training through a couple of financial workshops and assisted him in getting an SBA 7(a) loan for $413,000, from Seacoast Commerce Bank. As an ongoing SCORE client, Le Calvez utilizes the wealth of business knowledge available through the counselors to help him successfully grow Abbiotec™.
Abbiotec was initially financed through a home equity loan. Then, with a business plan showing a clear competitive advantage and projecting break-even in three years, they secured the SBA guaranteed loan which allowed Abbiotec to start production for inventory and operate in its new facility with triple the space of their original location.
Le Calvez is focused on developing and commercializing next generation antibodies and reagents for the life science research community. His approach and business concepts were born out of a need and a strong desire to deliver antibodies against druggable proteins. Abbiotec’s proprietary technologies allow them to select, design, and produce antibodies, lysates, and various reagents with a high degree of skill and efficiency so researchers can better focus their energies on their experimental designs and ideas.
Abbiotec has created a market niche by providing reagents within days that would take researchers four months to raise independently, thereby saving $1 to $2 million/day in drug production costs. Its products are being used in some of the most intense research efforts on Alzheimer’s, diabetes, cancer and infectious diseases.
Tools provided by Abbiotec enable the study of human biology and disease at the cellular and molecular levels, with cross applications in diagnostic assays that they hope may eventually lead to promising therapeutics.
A large library of unique antibodies targeted against high value druggable proteins is available through Abbiotec. Their aim is to eventually build the most comprehensive and valuable library of antibodies and related reagents that target the estimated 4,000 human disease proteins. Abbiotec will also offer various complementary kits and solutions in the areas of genomics, proteomics, cell and tissue culture, and areas important for studies in functional genomics, signaling pathways, immunology, cancer, and brain disorders.
Abbiotec is an excellent example of a small business using scientific innovation, the reach of the internet and customer focus to grow and be profitable. Its success is evident in the fact that its financial break-even was achieved in 2 years instead of the projected 3 years.
The guidance received from SCORE and the SBA guaranteed loan have contributed to Abbiotec’s current success and with ongoing SCORE counseling will keep them moving toward their future goals.
For additional information about Abbiotec visit www.abbiotec.com.
For more information about SBA visit www.sba.gov. SCORE is a volunteer organization sponsored by the SBA. Visit www.score.org to find a Chapter near you.