A global pharmaceutical company has expanded into Loughborough, creating 63 new jobs and establishing a new research and development facility in the town, after receiving £1 million funding from the University of Derby’s Invest to Grow scheme.
Almac Pharma Services’ Northern Ireland site had grown significantly in recent years. To maintain this level of growth, the company investigated new sites including Charnwood Campus, a 70-acre science, technology and enterprise park on the outskirts of Loughborough, which was formerly the base of Astra Zeneca.
The company applied for funding from the University in August 2015 and was awarded £1 million in December 2015, consisting of a loan and a smaller research and development grant.
At Charnwood, the company redeveloped vacant buildings to give it the capability and technology to enable its customers to research and develop new experimental products. The new site allows the firm to continue to provide a world-class offering to existing customers as well as expand their global customer base.
Graeme McBurney, Almac Pharma Services’ Managing Director, said: “The support Invest to Grow offered was certainly a factor in our decision to invest in the Charnwood campus and expand the site.
“The funding has enabled the research and development element of the project to progress, in terms of purchasing the necessary equipment and attracting skilled employees to Almac. We have potential to expand further at Charnwood and look forward to seeing it develop.”
Mark Wheddon, Head of Delivery for Invest to Grow, added: “We are delighted to support Almac Pharma Services with their expansion into the region. Their investment at Charnwood Campus along with Invest to Grow funding has seen significant new job creation and strong business growth and we look forward to working with them on collaborative opportunities with the University in the future.”
Almac Pharma Services’ presence on the site has already resulted in increased interest from other companies to move to the location, acting as a catalyst for future job creation and investment in the Loughborough area.
The University of Derby’s Invest to Grow scheme provides grants and loans to support private-sector businesses across the East Midlands to innovate, grow and create job. Find out more about Invest to Grow.
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