Drugs company Quotient Sciences takes over Alnwick-based Arcinova after Northumberland firm's successful expansion
Arcinova, the Alnwick-based pharmaceuticals firm, has been acquired by Quotient Sciences, the drug development and manufacturing accelerator.
BGF, the growth capital investor, which put £5million into Arcinova in 2018, has also announced its exit.
The funding was used to accelerate growth by increasing production capacity and recruiting more staff.
Arcinova’s facility in Alnwick, where more than 160 staff are employed, is now one of the most technically advanced of its kind in the UK.
Co-founder and execurive chairman, Professor Ian Shott, has been heavily involved in promoting clean and efficient chemistry and biotechnology processes to minimise the environmental impact of drug development.
He said: “Since inception we set out to build a unique organisation that accelerates the development of new medicines for patients in need. BGF has been an excellent partner to the business over the past two years, and we are now delighted to move on to the next stage with Quotient.”
Richard Taylor, head of Yorkshire and North East at BGF, said: “It is testament to the strength of Arcinova’s deep science specialism combined its with scale that the company has delivered such a successful exit.
"We are delighted that our funding was able to accelerate the company’s expansion, leading to the acquisition by Quotient Sciences. We look forward to watching the continued growth of Arcinova.”
BGF’s Mark Bryant, who sat on the board of Arcinova, said: “Arcinova has spearhead the use of new intensive manufacturing technology processes to support the rapid development of pioneering drugs for the treatment of life-threating illnesses. We are privileged to have played a role in the growth of the company, which will no doubt continue to deliver world-leading innovations in life sciences.”
Arcinova is a multi-service Contract Development and Manufacturing Organisation (CDMO) that serves pharmaceutical and biotechnology companies across the globe in developing their life changing medicines.
It recently commissioned the R1000 Robotic Capsule Filler which directly supports the optimisation of drug substance through direct filling into capsules. The result is a significantly faster route through clinical trials and lower overall costs.
Arcinova’s previous manufacturing method for patient specific drug products involved a non-automated procedure with a production rate limited to 200 units per hour. The new robotic machine increases production to 1000 units per hour, while maintaining the same level of operator labour.