Pictured above: (l-r) Robert Hardy of Aesica with Paul
Titley of R5
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 more information about BioCity Nottingham, please visit
their website here: www.biocity.co.uk