Levicept Ltd is a biotechnology company developing a novel, safe and effective treatment for chronic pain. The treatment is designed to benefit patients including osteoarthritis sufferers and those with neuropathic pain.
Based in Sandwich, Kent, the company was founded by Simon Westbrook in 2012. He had previously worked as a development scientist for Pfizer, the US based pharmaceuticals giant, for over 15 years.
When Pfizer decided to close its site in Sandwich in 2011, Simon saw an opportunity to set up his own operations and continue his work. He secured the backing of venture capitalists who appreciated the massive potential of a safe treatment that did not have the adverse long term effects of the traditional drugs currently in use. There are over a billion people worldwide suffering from some form of chronic pain.
Simon moved his accounts to Kreston Reeves after he met Scott Miles [Partner at Kreston Reeves]. Initially their geographical proximity was attractive but Simon now appreciates the wider benefits of Kreston Reeves.
He explained “They know what they are doing and put us on the right path and got our books up to scratch really quickly. I can rely on them. They helped me pull together the financial forecasts to secure an E.U. grant for €6 million. They produced our accounts in record breaking time.”
“They are helping me with R & D [research and development] tax credits. They understand the law around that and the grant situation, maximising what we can get going forward. They understand our business really well.”
Kreston Reeves also help with day to day financial matters and remuneration of directors and payroll. Simon concluded “We want to keep overheads really low and maximise expenditure on research. Kreston Reeves help us to do that. We’ve got a good relationship. They understand what we are trying to achieve. Moving to Kreston Reeves was one of the best things I have ever done.”