Manchester’s Jelf Manson wins Redx Pharma spinout insurance contract
Jelf Manson, the Manchester based insurance broker, has won the contract to provide insurance services for Redx Pharma spinout company, Redag Crop Protection.
Redag, following a seven figure fundraising led by Manchester based corporate finance boutique Acceleris Capital, has to established laboratory and office space at the BioHub Alderley Park facility, where Jelf have recently entered into a Corporate Partnership programme.
Jelf is advising Redag over a programme of appropriate insurance for their research and development of products in the global agrochemical market.
Jelf recently partnered with the life science business incubator , BioHub, to provide resident companies with its niche insurance expertise and products specifically designed for research and development and bioscience industry.
The 86,000 sq ft BioHub, which is a joint venture between BioCity, Bruntwood, Manchester Science Partnership and AstraZeneca, is targeting early-stage and growing firms engaged in innovative drug discovery and development and has already attracted 80 companies to the site.
Bill Thompson, chief executive, Redag, commented: “The agrochemical market is worth some £50 billion a year and with the investment our company has received, we are aiming to grow our market share by taking the business to the next level.
“It is, therefore, vital to work with trusted partners such as Jelf, to ensure adequate protection and expertise is in place to help us reach out targets.”
Life sciences sector specialist at Jelf Manson, James Adler, said :“BioHub is one of the most exciting developments in the life sciences sector in the region and with our specialist insurance knowledge, we look forward to providing a real value added service to the facility and it’s tenant companies.
“Companies based at the BioHub are at the leading edge of research and development, exploring potentially disruptive medicine and technologies and it is essential they understand the risks that they face and have access to insurance services which will appropriately protect their unique immediate and longer term requirements”
This was posted in Bdaily's Members' News section by Sophia Taha .