£1bn empire in medical technology planned by duo
Christopher Stainforth, the old Etonian corporate financier acquitted of deception charges in the 1990s Blue Arrow case, will start a medical technology venture this week.
Mr Stainforth and Jeremy Curnock Cook, who once headed Rothschild's biosciences unit, are understood to have agreed to have become chairman and director of a small Plus-listed company. Although they will raise only £300,000 to £400,000 to make a first transaction, the plan is to create an empire worth up to £1bn within 10 years.
The company will focus on buying early-stage medical technology, such as companies specialising in diagnostic machines. The group is likely to move from Plus to the Aim market within six months, where it can raise the amount of cash needed to meet the aim of multiplying the value of the technology it buys tenfold in just two years.
Transactions are expected to be between £3m and £5m and will not involve pharmaceuticals companies, which can struggle to get approval for the drugs and medicines they develop.
Mr Stainforth would not confirm the company that the duo will join, but told The Independent: "I'm looking forward to working with Jeremy as we look to create a significant company. We've known each other for 10 years."
As Voltaire once said, “Ice cream is exquisite. What a pity it isn’t illegal”
- 1 Mother fed her daughter tapeworms to make her skinny for beauty pageant
- 2 Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
- 3 Crystal Palace next manager latest: Palace consider Ally McCoist - EXCLUSIVE
- 4 ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
- 5 Tim Sherwood column: 'It started as a three-horse race but turned into the Grand National'
'Alien thigh bone' on Mars: Excitement from alien hunters at 'evidence' of extraterrestrial life
West poised to join forces with Assad in face of Islamic State
Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – as hunt begins for killer
ALS ice bucket challenge co-founder Corey Griffin drowns, aged 27
Richard Dawkins on babies with Down Syndrome: 'Abort it and try again – it would be immoral to bring it into the world'
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Isis threat: Cameron wants an alliance with Iran
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
Disgusting, frustrating, but intriguing: how the country really feels about its politicians
Bin bag full of cats' heads discovered near Manchester's Curry Mile
iJobs Money & Business
£50000 - £60000 per annum: Harrington Starr: Network Engineer - CCNP, Hedge Fu...
£60000 - £70000 per annum: Harrington Starr: Senior Network Engineer-CCIE, Mul...
£30000 - £50000 per annum: Harrington Starr: Network Infrastructure Engineer (...
£35000 - £45000 per annum: Harrington Starr: Network Engineer (CCNP, BGP, Mult...