ReNeuron gears up to move into Welsh Government’s new facility
1 Mar 2016 12:24 PM
ReNeuron, the pioneering stem cell regenerative therapy company, is gearing up to move its entire operations to the Welsh Government’s new Advanced Therapies Medicinal Products facility at Pencoed.
The AIM-listed company is taking over the entire 25,000 sq. ft. ground floor of Therapia, a state-of-the-art facility equipped with research and development laboratories, clean rooms designed for automated cell culture, and office accommodation. Therapia is based on Pencoed Business Park, just off the M4 Motorway in South Wales.
The keys have now been handed over to enable ReNeuron to occupy the non-manufacturing area while work goes ahead on the completion and validation of the manufacturing areas to comply with Good Manufacturing Practice (GMP) regulations.
In July 2015, ReNeuron raised £68.4m to fund their ongoing operations - including a further investment by the Wales Life Sciences Investment Fund. The Company is relocating its existing staff and hopes to create up to a further 70 new highly skilled jobs in Wales over time. The new facility in Wales is three times the size of their existing base in Guildford.
Economy Minister Edwina Hart said:
“This is an important milestone for ReNeuron and its ground breaking work in stem cell therapy. It also marks a significant stage in our strategy to make Wales a recognised and renowned centre for stem cell therapy and regenerative medicine.
“We already have a number of world class researchers and companies working in regenerative medicine and ReNeuron’s move to Wales will undoubtedly be key to stimulating further growth and raising the profile of what Wales can offer this sector.
“We want to create the best possible environment for life sciences innovation and business growth and Therapia represents a significant investment by the Welsh Government and will house one of the UK's most advanced commercial cell manufacturing facility.”
Olav Hellebø, CEO of ReNeuron said:
“We are delighted to be moving ReNeuron’s existing operations to our new facility at Pencoed, South Wales. When complete, we believe the building will house one of the UK’s most advanced commercial cell therapy manufacturing facilities and we look forward to continuing to work with the Welsh Government to bring this important project to fruition.”