£8m Deeside cancer drug manufacturing facility will bring 50 new skilled scientific jobs.
A new pharmaceutical manufacturing facility in Deeside is set to be built creating up to 50 new skilled scientific jobs.
A technology syndicate including asset managers Maven Capital Partners, Seneca and Finance Wales have invested in cancer drug company ADC Biotechnology (ADC Bio) to help fund the construction of an £8 million dedicated pharmaceutical manufacturing facility.
The Welsh Government is also providing grant funding to ADC Bio.
The firm operates in the highest growth sector within oncology therapeutics and has developed a unique patented ‘Lock-Release’ technology for the development and manufacture of Antibody Drug Conjugates (ADC) group of cancer therapies which are designed to specifically target and kill tumour cells.
Known as ‘magic bullets’, ADCs are the next generation of anti-cancer drugs which combine the unique targeting capabilities of anti-bodies with the cancer-killing ability of cytotoxic drugs.
ADC Bio management team, led by CEO Charlie Johnson, have extensive combined industry experience and are among the global leaders in this specialist field, having already successfully established a clinical drug manufacturing facility in Scotland.
Charlie Johnson, CEO at ADC Biotechnology Limited, said:
“The investment and development in the new facility will see the creation of a host of new, degree level and above jobs locally.
We are very confident about orders and already have confirmation that many of our existing customers will use the new facility for future projects and we expect to add a number of new drug projects from companies in the USA and Europe.
It’s really exciting that some of the world’s most advanced therapies will be developed here and we would like to thank the teams at Maven, Seneca, Finance Wales and the Welsh Government for their support and investment to help fund this project.”Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email: News@Deeside.com
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