Biotech company R5 gain funding

The Nottingham-based company gain £250,000


Biotech company R5 gain funding

Biotech company R5 Pharmaceuticals has received £250,000 in order to expand its offering to the sector.

The contract development business, based in Nottingham, which produces a range of products for major players in the sector, has received funding from Catapult Venture Managers.

Alongside the funding from Catapult there has been investments from the R5 management team and from incubator BioCity, where the company is headquartered.

The R5 team is led by Dr. Ian Wilding, its non-executive chairman, who has more than 20 years experience as a pharmaceutical scientist and entrepreneur in the bioscience community.

Another major player in the R5 team is Paul Titley, the company’s chief executive officer, who has worked in the development and manufacture of pharmaceuticals for over 30 years.

Paul Titley said: “R5 Pharmaceuticals brings together some of the most well-respected names in the industry who are set to deliver pharmaceutical development services that are second to none.

“The laboratories, manufacturing suite and cleanroom that R5 has built at BioCity will quickly enable it to establish itself as the development contractor of choice.”

Jonathan Earl, Investment Manager with Catapult Venture Managers, said: “The business has a very strong management team with a proven track record and many decades of experience between them.

“Their knowledge of the sector and their contact base should prove invaluable in moving the business forward.”

© Crimson Business Ltd. 2007

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