AstraZeneca after £5m investment to develop UK R&D site

Hannah Blake

 

pharmaphorum

 

Global drugmaker, AstraZeneca, has successfully applied for a £5 million investment from the UK Department for Business, Innovation and Skills’ Regional Growth Fund. The investment will allow AstraZeneca to further explore the potential of developing a BioScience cluster on its Alderley Park R&amp,d site.

 

The venture will create a unique hub for pharmaceutical innovation and biotech enterprise in the North West, representing a positive example of progress for the UK’s life sciences sector.

“This initiative reflects the changing face of pharmaceutical R&amp,D and our focus on collaboration to access and develop the best science and technology. Alderley Park is a site of critical importance to our global R&amp,D organisation. By combining our capabilities with those of our partners and other enterprises, we aim to create a hub of scientific innovation with the potential to discover the medicines that people will need in years to come.”

Martin Mackay, President of R&amp,D at AstraZeneca.

AZ will now work, over the next three to six months, on the due diligence required to finalise the proposed plans.

 

press-releases-pharmaphorum-08Oct12

 

Related news:

 

Companies boosted by Regional Growth Fund awards (Manchester Business Awards)

 

Reference links:

 

AstraZeneca

Don't miss your daily pharmaphorum news.
SUBSCRIBE free here.