The purchase of Nottingham pharmaceutical formulation specialist and clinical manufacturer R5 Pharmaceuticals by Aesica Pharmaceuticals was announced on Tuesday 29th June and welcomed by major shareholder BioCity Nottingham.
R5 Pharmaceuticals was set up towards the end of 2006 and has grown rapidly within BioCity, employing around 60 highly specialised staff. Export sales account for 75% of turnover, a factor which contributed to R5’s win of the national Medilink UK Export Achievement award in March this year.
BioCity Nottingham, which has an investment subsidiary, Mobius Life Sciences, was the largest shareholder in R5 Pharmaceuticals and is delighted with today’s announcement. The deal represents a significant return on investment for BioCity whose shares have now been transferred in total to Aesica. Dr Glenn Crocker, BioCity CEO, was a founder director of R5 and non-executive CFO and has played an active part in the company’s development.
He commented “Today we celebrate the enormous achievement by Chairman Ian Wilding, CEO Paul Titley and the team they have led since late 2006. The company’s performance and strength of management has been a significant factor in securing the deal with Aesica. The support of new owners will no doubt open up new opportunities for R5”
“BioCity is in the business of creating, nurturing and supporting the very best life science firms for a global purpose,” continues Dr Crocker. “R5’s success is a great validation of this model, which we will continue to implement and further expand over the coming years”.
For Dr Glenn Crocker please contact Lorna Richardson on 0115 912 4285
Media contact: Jayne Russell, Integra Communications: 07896 538997
Aesica press office: Elizabeth Eddy, Velvet Communications: 01740 730221
About BioCity Nottingham Ltd
BioCity Nottingham provides business support, finance, labs & offices to bioscience, pharmaceutical, med-tech & healthcare companies. It operates one of Europe’s largest bioscience business centres, which is currently home to nearly 70 fast-growing companies, including R&D and business support services.
BioCity invests in early stage life science companies through its subsidiary, Mobius Life Sciences (launched in October 2009), which is the first investment fund in the Midlands region dedicated to the life sciences sector. www.mobiuslifesciences.com
About R5 Pharmaceuticals Ltd
R5 was established in 2006 at BioCity Nottingham by Paul Titley, Janette Waterhouse and David Jordan to develop and manufacture new clinical trial materials for pharmaceutical and biotech companies. The three had met previously while working at Quintiles who were at the time the world’s largest clinical outsource company. The majority of the industry does not have their own laboratories. The regulations surrounding the provision of test medicines that will be used in human trials are considerable, and therefore providing these services as an outsource model is attractive. The original ambition of R5 was to be able to provide all dosage forms in contrast to the competition which often select one or two (due to the costs of setting up the relevant facilities). The unique opportunity at BioCity was to refurbish labs and equipment that was already available for the breadth of medicines required by R5. R5 was funded via a combination of VC, Angel, Bank and Directors own funds.
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