2018: No.46= - £115m
2017: No.41= - £105m
Professor Jo Bradwell founded Birmingham-based medical diagnostics company the Binding Site in 1983. It is a classic example of how discoveries in the laboratory can achieve considerable commercial success.
The company was spun out of research work undertaken at the University of Birmingham, where he studied medicine. The team developed a new way to produce highly sensitive antibodies which could be used for diagnostic tests to identify childhood immune deficiencies and blood cancers in adults. Realising they had identified a process with huge commercial potential internationally the research team, led by Professor Jo Bradwell, created the Binding Site as a commercial venture.
That was 35 years ago. In November 2011, Prof Bradwell sold the majority of the shares in the medical diagnostics company to private investment group Nordic Capital. He retains a small shareholding. The value of the sale is undisclosed, but it will have been a considerable sum. In 2009, Binding Site’s auto-immune operation was sold to the Werfen Group for £80 million.
The University of Birmingham has a pioneering centre to lead research into the world’s forests, which was funded by a £15 million donation from its former student and academic and his wife Barbara in 2013. It was one of the largest gifts ever given to a British university.
The Institute for Forest Research is studying the impact of climate and environmental change on woodlands and the resilience of trees to pests and diseases. He continues to plant trees on his Norbury Park estate which has won awards for its woodland planting of more than 60 species.
Professor Bradwell studied medicine at the university and graduated in 1968, subsequently becoming a professor in the Department of Immunology.
Jo Bradwell, 73, remains a professor at Birmingham University and is still involved in research. The Binding Site leases laboratories from the University and does much of its work there. Its headquarters is a state-of-the-art research facility in the heart of Edgbaston's medical quarter in Calthorpe Road. Employing more than 500 people, the company has offices and distributors all over the globe, with a major operation in San Diego, USA. It is represented in more than 100 countries worldwide.
It turns over more than £64 million a year, most of which is export based. In 2016 profits reached a record £31.4 million. Net assets stand at £117.6 million.
The Binding Site began with a range of clinical research products. It has continued to grow and expand, launching new, high-value, knowledge-based products and opening new offices around the world. It has won the Queens Award for Export Achievement, and the Queens Award for Enterprise twice. Forty per cent of the company’s products are sold in the US. In 2015 it picked up the Queens Award for International Trade.
Prof Bradwell is an accomplished climber. He successfully climbed the 3404m Pico De Aneto in the Pyrenees and has been on several expeditions to the world’s highest mountain ranges in the Himalayas and South America.
He is founder of the Birmingham Medical Research Expeditionary Society which was begun in 1977 when several young doctors started climbing together and, to help fund their expeditions, devised research projects to study the effects of mountain sickness. Since then the society has prospered as a medical research charity, backed by pharmaceutical companies and research funds.