Drugs firm Symbiosis secures £1m to build products
Colin MacKay: ‘exciting time’
Symbiosis Pharmaceutical Services, the Stirling-based drugs company, has secured £1 million from Allied Irish Bank to support its development and enable it to take on 20 additional staff.
The firm’s facility at Stirling Innovation Park was purpose built in 2011 to manufacture deliberately small batches of clinical trial injectable drug products.
Since then, the company has grown significantly and the financing will allow it continue its trend of annual, double-digit revenue and profit increases.
Last week it signed a supply agreement with AstraZeneca for sterile manufacture of the COVID-19 recombinant adenovirus vaccine known as AZD1222 for AstraZeneca sponsored clinical trials.
Under the agreement, Symbiosis will provide AstraZeneca fast-track access to sterile vaccine drug product manufacturing capacity for clinical trial supply.
Colin MacKay, CEO of Symbiosis, pictured, said: “It’s an exciting time for Symbiosis and we’re grateful for the support from Allied Irish Bank (GB) in recognising our potential for growth.”