X-RAY imaging specialist IBEX has taken bigger, custom-designed offices in NETPark as it looks to almost double its workforce and transform into a multi-million-pound business.
IBEX Innovations Ltd relocated to one of the new Explorer units on the Sedgefield-based science park to accommodate huge growth – which will see IBEX shift into profitability and increase its highly skilled workforce to more than 30 in the coming years.
Chief executive, Dr Neil Loxley, said the move into the Explorer building, which is managed by Business Durham, is instrumental to IBEX’s future success.
Said Dr Loxley: “We have had a great deal of input into the design and layout of the office and laboratory, which will take us through the next five years of growth comfortably.
“The quality of the facilities at NETPark and the attitude of staff is first class. It has a really dynamic, innovative atmosphere.”
IBEX have created patented software for medical x-ray imaging which allows more information to be recovered from a standard x-ray image. IBEX’s Trueview technology has been demonstrated to provide accurate information about a patient’s bone health during clinical trials conducted at the James Cook University Hospital.
Trueview will ultimately lead to earlier detection and treatment of osteoporosis, a seriously debilitating disease affecting over 3 million people in the UK. This has the potential to prevent over 50,000 fragility fractures in the UK per year.
IBEX is now looking to partner with medical equipment manufacturers to access an estimated $4 billion market.
This is just the beginning for IBEX, who are also targeting their technology towards improvements in breast cancer screening and computed tomography reconstructions.
Sarah Slaven, interim managing director of Business Durham, said: “IBEX Innovations is a prime example of an innovative, world-class technology company thriving on NETPark; making the most of the facilities available and employing a skilled workforce.
“It started its journey on NETPark as a virtual tenant, then took on incubator space and was one of the first to take offices in the Discovery 2 building. Its move to Explorer is a natural progression as the company grows and makes its name in new markets.”