Symbiosis acquires 20,000 sq/ft facility to increase high-tech manufacturing capabilities, financed by £1.2m from Barclays Corporate Bank PLC.
The additional space will double the total footprint of the company across the four facilities that it will operate from, increasing manufacturing capacity by 50% in the short-term. As part of a wider strategic growth initiative, this move will strengthen the current GMP manufacturing service offering and further accelerate the delivery of sterile injectable drug products to clients and ultimately their patients.
The new manufacturing facility also includes plans for two new cleanroom-based production lines to strengthen the companies ability to support its biotechnology and pharmaceutical clients worldwide and the new medicines and therapies being developed.
The new manufacturing capacity in the Bruce Building facility will safeguard over 130 skilled life sciences jobs at Symbiosis and generate an additional 50 new jobs, tapping into Scotland’s impressive life sciences talent pool. The facility fit-out project will be implemented over a three-year period with financial support provided by Barclays Bank PLC for the purchase of the building. Symbiosis CEO Colin MacKay commented: “By investing £1.75m ($2.25m) in the purchase of a 20,000sq/ft building and subsequently equipping it to provide additional world-class sterile manufacturing capacity for our existing and future clients globally represents the next major strategic chapter in the successful and consistently fast-growing trajectory of Symbiosis.
Stuart McAleese, Relationship Director for Scotland Mid Corporate, Barclays UK Corporate Bank commented: “We are delighted to be Symbiosis’ banking partner for the purchase of the Bruce Building. Symbiosis is a great example of an innovative manufacturing business that is embracing new market leading technology as part of expansion plans. We’re proud to support them with lending to continue their growth, as they continue to scale, evolve and expand their global business capabilities even further.”
Stirling Council Leader, Cllr Chris Kane said: “This is absolutely fantastic news for Stirling, the wider region and Scotland.
“Symbiosis’ significant investment at their site will safeguard and create skilled jobs in Stirling’s thriving life sciences and manufacturing sector. It’s an endorsement of Stirling’s world-class talent, research skills and innovation, and our location at the heart of one of Europe’s largest and most well-connected biotech clusters.
Comments powered by CComment