Member Article

Alnwick pharma firm Arcinova to create 31 jobs with £750k loan

Independent pharmaceutical contract research and development business Arcinova has revealed plans to bring an additional 31 new jobs to its Alnwick base, following a £750k loan.

Established in September 2015 by life science entrepreneurs Ian Shott and Paul Ryan, the firm services a range of international life science businesses, including large pharmaceutical companies, speciality pharmaceutical companies and biotech companies.

Arcinova’s Managing Director Ian Shott explained that the funding, from the North East Growth Plus Fund - managed by FW Capital - will help the company to deliver ‘significant’ growth.

He commented: “We aim to offer best in class technology services for contract research, development and small scale manufacturing of drug substance from one location in Northumberland to help our UK and international customers progress their projects through the drug development process efficiently and with minimum risk.”

Keith Charlton, FW Capital Investment Executive, said: “The new medicine development and delivery sector is large and experiencing strong growth, our investment in Arcinova will be instrumental in enabling it to take advantage of this growth opportunity and to create highly-skilled jobs which will greatly benefit the region.

“We are pleased to be working with yet another ambitious North East company, driven by an impressive and highly experienced management team with a proven track record of working together and successfully growing a business in this sector.

Joanne Whitfield, FW Capital’s Fund Manager in the North East, added: “We are delighted at being able to invest in a company of Arcinova’s quality.

“Their expansion will have a significant positive impact on the area and shows how much of a benefit the Fund has been for the regional economy.”