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Innovate UK Award £2.6 Million to Cobra
Jan 25 2018 Read 592 Times
Biologics and pharmaceuticals developer Cobra Biologics has been awarded £2.6 million capital infrastructure investment by Innovate UK under its industrial strategy boost for UK medicines, that will go towards a £5 million development project, part of a wider £15 million company expansion announced by Cobra in 2017.
The company’s planned extension of capacity and capability that will lead to increased process development, analytics and GMP manufacturing, is set to double the footprint of Cobra’s UK site and create 25-35 additional jobs.
Peter Coleman, Chief Executive of Cobra Biologics, commented: “Cobra is undertaking a very significant expansion of our viral and DNA manufacturing capability and we are very pleased to have received funding from Innovate UK to help accelerate our plans. The investment recognises Cobra as a leading company in the cell and gene therapy market and provides us, and the UK, with a unique opportunity to be at the forefront of developing revolutionary disease therapies and new treatments for patients.”
Minister of State for Trade and Exports, Baroness Rona Fairhead said: “The UK is a world leader in the Life Sciences industry and our advanced gene therapies offer the potential to improve dramatically the lives of millions.
“The expansion of Cobra is an exciting development. It will create further highly skilled jobs and allow Cobra to drive their exports, while demonstrating UK leadership in another industry of the future.”
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