A bio-tech company in Denbighshire has collapsed into administration with workers made redundant.

Sphere Medical Limited was started up in 2003 and has operations based in Cambridge and a production site in St Asaph.

It worked creating biosensor technology to improve outcomes for critically ill patients, with innovative product Proxima one of its core brands.

Sphere Medical Limited at St Asaph Business Park. Photo by Ian Cooper

But the company has now gone into administration with Steve Absolom and Will Wright from KPMG’s Restructuring appointed joint administrators.

The majority of the 45-strong workforce of scientists, engineers and technicians have been made redundant.

Several members of staff have been retained to assist the joint administrators whilst buyers are sought for the business and assets.

Steve Absolom, partner at KPMG and joint administrator said: “Sphere Medical has developed an innovative biosensor technology, but unfortunately, has run out of the funding required to enable the technology to achieve the necessary regulatory approvals for it to be commercially developed.

Sphere Medical Limited at St Asaph Business Park. Photo by Ian Cooper

"An opportunity now exists for a new investor or partner to come forward and harness the potential of Proxima, as we put the technology and associated assets up for sale.

“However, we understand this is an extremely disappointing outcome for the dedicated employees of the business.

"Our focus over the coming days will be to liaise with those employees who have been made redundant, ensuring they are provided with any support and information they need.”

Parties interested in buying the technology and associated assets should contact  Nicola.Kennedy2@kpmg.co.uk