BGF has invested £5 million growth capital in Arcinova following a period of rapid growth and development at our site in Alnwick, Northumberland.
We will use the funding to drive continued innovation as well as international expansion.
Arcinova has been spearheading the use of new intensive manufacturing technology processes to support the rapid development of pioneering drugs for the treatment of life-threating illnesses including cancer.
As a result of its innovative approach, we have more than doubled our customer base to over 125 in the past two years, generating revenue of close to £9 million.
Arcinova was founded in 2016 by serial entrepreneurs, Professor Ian Shott CBE (CEO), and Paul Ryan (CFO), after the acquisition of a 15,000m2 contract research facility in Alnwick, previously owned by Covance.
Since then, the team has extended the facility’s capabilities into Active Pharmaceutical Ingredient (API) manufacture and has brought together a range of specialisms including drug substance synthesis, formulation and manufacture as well as bioanalytic, metabolism and radiolabelling services. Our facility is now one of the most technically advanced of its kind in the UK, with growing capacity to take on more work from both existing and new customers.
BGF, a £2.5 billion investment company, will provide support as a long-term minority shareholder in the business. The initial funding will be used for further investment in the joint-project, as well as new equipment, infrastructure and people in the UK and overseas to further increase capacity.
Following an introduction by BGF, Arcinova has appointed Mike Hudson, co-founder of Neuropharm, as non-executive Chair. With broad industry experience, Mike will provide support and guidance to the Arcinova team as we implement our growth plans.
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