R5 Pharmaceuticals

Apr 21, 2017

Comments (0) THE BioCity company R5 Pharmaceuticals has been acquired in a multimillion-pound deal. The Nottingham-based company, which makes and formulates drugs, has been bought by the US-owned firm Aesica Pharmaceuticals for an undisclosed sum. R5 is Aesica's third UK acquisition since 2006. Aesica is one of the UK's fastest growing companies with an annual turnover of about £100 million. It is expanding quickly in the UK and the US where it recently opened new offices in San Diego and New York. R5 develops and manufactures new medicines and clinical trial materials. It employs 51 staff and this year is heading for sales of £4 million. R5 will retain its current identity and brand while becoming a subsidiary of Aesica. Key members of the Aesica team will join the R5 board. Paul Titley, R5's founder and managing director, said: "Our introduction to Aesica will enable customers to directly access additional product development services. "The all-inclusive service offering provided by Aesica is rare and we believe our early stage research and development experience will add a new and invaluable dimension to the business. "To become part of such a dynamic organisation heralds a new era for R5 and we are excited at the prospect of sharing our knowledge and skills with the entire team at Aesica, as well as establishing an increased presence in global markets." Mr Titley said capability and experience of R5's staff will be used "in its entirety". He hired his 51st member of staff within hours of doing the deal. R5 will benefit from the support and investment provided by Aesica as it expands. Robert Hardy, chief executive of Aesica, said: "The acquisition of R5 is strategically crucial for our business as we extend and enhance our current offering. R5 has a proven track record in delivering early phase formulation development and its reputation within the emerging biotechnology industry was of particular interest as we begin to increase our portfolio of clients within this field. "We are hoping to harness the exceptional expertise and knowledge across the team at R5 to facilitate our continued expansion and to achieve our vision of becoming the leading supplier of Active Pharmaceutical Ingredients and Formulated Products to the global pharmaceutical and biotechnology industries." Aesica said the acquisition showed its commitment to continually enhancing its service to the global pharmaceutical and biotechnology industries. It said that, strategically, the integration of R5 will enable it to consolidate its expertise in delivering the highest quality standards in dosage form development and manufacture.