A pioneering Nottingham bioscience firm that conducts lifesaving research aimed at identifying new medicines is set to expand its scientific capabilities thanks to a £59,200 grant.
Aurelia Bioscience Limited based at Nottingham’s BioCity incubator centre, is at the cutting edge in its field. Its clients span the life sciences industry and include Top 30 global pharmaceutical companies, biotechnology businesses and national research institutes.
Aurelia Bioscience has received funding from the Nottingham Technology Grant Fund (N’Tech) to enable them to enhance their capabilities, by taking 56% more laboratory and office space.
The funding will allow Aurelia Bioscience to invest in new business development and marketing activities, as well as recruiting three senior scientists, doubling its workforce from three to six.
This is the latest in a series of significant investments for businesses in Nottingham’s growing life sciences sector.
N’Tech grants are geared towards the growing life sciences, digital content and clean technology sectors and the fund is delivered by Nottingham City Council. The programme, launched in April 2013 has so far offered 56 grants to businesses in the Greater Nottingham area worth £6.6 million. There are a further 25 applications in the pipeline requesting £2½ million and N’Tech closes to applications on 30 September 2014. So far 15 N’Tech offers have been made to businesses in the life sciences sector totalling £2.1 million.
Aurelia Bioscience was founded in 2012 by Kevin Hart PhD, Gary Allenby PhD and Kathy Dodson MSc, who all have experience working for blue chip pharmaceutical companies such as AstraZeneca and GlaxoSmithKline.
Dr Kevin Hart, Co-Founder and managing director commented: “We are a niche bioscience research organisation that delivers a bespoke service to a range of global clients. The work we do is critical in the early stages of new medicines discovery. There is great optimism for growth in the life sciences sector and Nottingham and BioCity is taking a very active role in this.
“Nottingham City Council has been key in helping us at a critical point in our growth. The support and funding available here through initiatives such as Growth 100 and the N’Tech fund is fantastic for the Nottingham economy.”
Toby Reid, N’Tech representative and Director at BioCity, added: “Aurelia Bioscience is one of Nottingham’s pioneering young research companies – a fine example of the city’s strength in the life science sector. We’re delighted to be able to support them as a BioCity business and work closely with other parties such as Nottingham City Council to help maximise local funding opportunities.”
N’Tech is a core element of Nottingham City Council’s Nottingham Growth Plan delivered through its “Growing Nottingham” campaign – a blueprint for the city’s future business growth and one of the most ambitious strategies of the UK’s Core Cities. Measures introduced as part of the plan have played a key role in encouraging new business formation through various finance and support packages.
N’Tech grants are funded solely through the Government’s Regional Growth Fund (RGF). Nottingham City Council secured RGF from the Government for grants to help fast track development of businesses based in the city. The funding can provide grants of £20,000 to £1million per successful company to support growth and expansion.
Councillor Nick McDonald, Portfolio Holder for Jobs and Growth at the City Council, said: “Nottingham has a rich science heritage. We need innovative businesses like Aurelia Bioscience to ensure that this continues in the future, and we are very pleased to have been able to support their development through N’Tech. The net result will be more jobs for city residents in the life sciences sector.”