Spyridon Tsakas, USA
Spyridon ‘Ross’ Tsakas came to Scotland from the USA to study an MSc to further his knowledge of business development and to establish his company Eulysis Ltd. He is commercialising his novel system of prolonging the lifespan of drugs while improving their storage and delivery.
He talks to TalentScotland about his work and plans for his company in Scotland.
Tell us about your background
I was born in Greece and brought up in the USA. With the help of my father, a retired genetics professor, I’ve developed a single vial system for prolonging the lifespan of drugs so they can be stored without refrigeration for years instead of months without losing their potency.
I came to Edinburgh in 2009 to study an MSc in International Business and Emerging Markets at the University of Edinburgh in order to gain more insight into marketing the invention.
I chose Edinburgh as it is world-renowned for life sciences – and also came highly recommended by my father who met my mother while studying there!
How does your system work?
The single vial system works by preserving the medicines inside a specially attached cap fitted to a small bottle of buffer solution – when the cap is depressed the active ingredients mix with the solution and the medicine becomes active. This technique can work with a wide range of medicines such as antibiotics, vaccines and insulin.
What support have you had in Scotland for your invention?
I’ve been fortunate to benefit from an Enterprise Fellowship through the Royal Society of Edinburgh during 2010 -2011. This offers a year’s support, including salary, access to business training and networks of mentors and business advisors to help develop ideas.
It’s been great getting the Fellowship as it has not only funded a year’s development but also introduced me to many business professionals. There’s an enormous amount of support here for small businesses, from the Royal Society of Edinburgh, Scottish Enterprise, Business Gateway and the Chamber of Commerce to the life sciences networking group Nexxus and the Innovation Council Advisory Service among others.
For example, I have been able to get free advice from lawyers specialising in IP law that has been invaluable in terms of patent protection.
What is your impression of Scotland as a place for entrepreneurs to set up business?
Scotland was certainly the best place for me to come, not just because of its focus on life science but also because of the support infrastructure here for entrepreneurs.
Eulysis Ltd has now successfully developed and patented several innovative devices which will help companies in the pharmaceutical, nutritional, diagnostic and cosmetic industries drastically cut costs and create simpler products for the end user.
Our latest device integrates the functionalities of a mobile phone and a medical device in one portable device.
Support from Scottish Enterprise on starting your own business