1st Oct 2013 08:31
LONDON (Alliance News) - Cyprotex PLC Tuesday said it would expand into BioHub, a new bioscience centre at AstraZeneca PLC's Alderley Park research campus near Manchester, England, providing extra offices and lab space after it saw revenues jump in the first six months of the year.
The contract research company said the new laboratories include fully equipped cell culture facilities and radiochemical handling capabilities, enabling Cyprotex to continue its growth strategy into new areas supporting preclinical drug discovery projects.
"As we continue to see significant growth in our business, it has been necessary to expand our facilities to meet the increased demand," Chief Executive Anthony Baxter said in a statement.
"The location of the facility is ideal for transport links, both by air and road, which is important as Cyprotex expands its international footprint," he added.
The company recently reported a 22% rise in revenues in the first half of 2013.
Cyprotex shares were up 5.9% at 6.49 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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