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R5 Pharmaceuticals picks up top regional award
10/07/2009
R5 Pharmaceuticals, one of the most exciting new biotech/pharmaceutical services companies in the UK, has won the ‘New Enterprise of the Year Award’ at the Nottingham Evening Post Business awards staged this week.
Delivering appropriate solutions for the development of safe and effective pharmaceutical formulations for use in clinical studies; R5 applies its expertise to early clinical product developments including paediatric products and sterile injectable preparations. Both of these arenas are coming under increasing pharmaceutical regulation.
“The company has a great future ahead of it,” says Rob Carroll, Managing Director of Catapult Venture Managers. “We invested £250k into the enterprise in December 2006, alongside investments from the R5 management team and BioCity, to help take the business to the next stage of development. Turnover accelerated from zero to nearly £1m in the first 16 months of operation and is now on target to nearly double that figure by the end of this year.”
The company now has 30 employees and benefits from a commercially astute and experienced management team. Dr. Ian Wilding (chairman) is acknowledged as a leading pharmaceutical scientist and entrepreneur in the bioscience community; whilst Paul Titley (CEO) has worked in the development and manufacture of pharmaceuticals for over 30 years.
Dr. Ian Wilding commented: “The client focused business model for R5 Pharmaceuticals, together with the combined scientific and managerial skills of our staff, have mainly contributed to our success today and this scenario looks set to continue into the future,”
R5’s takes pride in its state-of-the-art facilities include one of the very few Class A, B and C cleanrooms in Europe in addition to its versatile solids, semi-solids and liquid suites, ensuring the highest level of sterile and non-sterile product development. This is absolutely essential in clinical development to ensure that the final product will provide therapeutic benefits to the patient whilst maintaining its safety in humans.
Jonathan Earl, Investment Director with Catapult Venture Managers, commented: “The future for R5 is very exciting. This New Enterprise of the Year award is testament to the hard work put in by both the management team and workforce.”
BioCity in Nottingham is a healthcare and bioscience innovation and incubation centre that was made possible by a huge donation of laboratory and office buildings and equipment from BASF to Nottingham Trent University in 2001.
Submitted by Sarah Crennell