Alderley Park firm secures slice of £23m Regional Growth Fund


A company based at Alderley Park is to benefit from a slice of a £23 million investment in the region.

A total of £23 million has been given to seven projects in the North West in Round 5 of the Regional Growth Fund (RGF) and Absynth Biologics Ltd in Alderley Park is among those benefitting from the funding.

The company, which recently relocated to the BioHub facility at Alderley Park from Sheffield, will use the funding for the next phases of its research and development activity in developing innovative vaccines to treat bacterial infections.

This will enable the firm to create an additional 18 new jobs.

The Deputy Prime Minister Nick Clegg said: "The North West has seen major benefits from the Regional Growth fund already, and the £23 million investment I am announcing today is the latest important part in making sure the recovery is sustainable and balanced across the country.

"We're seeing very encouraging signs that the British economy is on the road to recovery. Home-grown and British-based businesses are leading that charge for a stronger economy. The Regional Growth Fund gives businesses a helping hand from Government to fuel business expansion and create sustainable employment.

"I pay tribute to the ambitious companies who are using the Regional Growth Fund to create jobs locally, helping to build a stronger economy and doing it fairly."

A spokesperson for the Cabinet Office said for "commercial confidentiality reasons" they are not able to confirm the value of the grant awarded to Absynth Biologics Ltd.

Alderley Park