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Reaxa’s Grant is catalyst for growth
12 November 2009
A £146,191 Grant for Research and Development has been awarded by the Northwest Regional Development Agency (NWDA) to Reaxa Limited based in Blackley, Manchester.
Reaxa provides manufacturing process technologies for the fine chemicals, pharmaceutical and life science industries.
Formed in 2005, the company sells catalysts and scavenger products that are used by these companies to enhance processes or recover metal residues from production processes.
Employing 13 people, the Grant for Research and Development will enable an 18 month project to take place.
This will build on a research project completed in February 2009 and will allow Reaxa to carry out the development work required on its new nickel EnCatTM catalyst and scale-up production to viable levels and produce the associated regulatory support file.
Upon completion Reaxa will be able to licence production to third parties for full-scale commercial manufacture.
Grant for Research and Development, is part of Solutions for Business, the Government's package of publicly funded business support designed to help companies start and grow.
The Grant helps entrepreneurs and business owners introduce innovative products and processes, including research trials and product testing. Grant for Research and Development is designed specifically to support innovative projects that have a solid commercial potential.
Mark Hughes, Executive Director of Economic Development at the Northwest Regional Development Agency (NWDA) said:
"Employees at Reaxa have already demonstrated their technical expertise and I am confident the project will result in a product with a strong market potential.
"The pharmaceutical and fine chemicals industry is looking for a product such as Reaxa's new EnCatTM catalyst, and we are delighted to be able to support the scale up the production of the already researched nickel catalyst."
Dr Pete Jackson, CEO of Reaxa said:
"Receiving this GRAND support from the NWDA has been essential for us in taking forward our new nickel EnCatTM programme in a difficult economic environment, and will underpin three and a half full time scientific jobs in our company"
"We have already had significant interest from pharmaceutical companies on the back of our research results and this development project will allow us to get to the point of commercialisation, with an exciting new product that will make our customers' drug manufacturing processes easier, safer and cleaner"
As part of the response to the current economic downturn, Grant for Research and Development is funded by the European Regional Development Fund (ERDF) with £1.1 million, together with £1.2 million from the Northwest Regional Development Agency (NWDA).
The ERDF programme is backed by the Programme Monitoring Committee to monitor, oversee and advise on the delivery of the programme and proved invaluable to the development of the new fund.
The NWDA is playing a crucial role in response to the current economic downturn, with a number of actions being taken to meet the needs of businesses during these financially challenging times.
To keep updated on the range of support being offered by the NWDA go to - www.nwda.co.uk/supportingbusiness
For more information on business support visit www.businesslink.gov.uk/northwest
For more information on Finance for Business please visit www.nwdabusinessfinance.co.uk
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Notes to Editors
For further information please contact Shelley Tattersall, Press Officer on 01925 400256 or mobile 07500 128482 or shelley.tattersall@nwda.co.uk
For urgent out of hours press enquiries please call 01925 400259.
For further information and to view previous press releases visit us at www.nwda.co.uk or www.erdfnw.co.uk
Between 2007 and 2013 the Northwest of England will receive a total of £521million (dependent on exchange rate) from the European Regional Development Fund (ERDF).
Managed by the Northwest Regional Development Agency (NWDA), this funding will enhance the competitiveness of the region's economy by supporting growth in employment and enterprise.
Key targets for the NWOP include:
• Creating 26,700 net additional jobs by 2015
• Generating £1.17bn additional annual GVA by 2015
• Supporting a 25% reduction in addition CO2 emissions
generated by the ERDF Programme.
The Northwest Regional Development Agency (NWDA) leads the economic development and regeneration of England's Northwest and is responsible for:
• Supporting business growth and encouraging investment
• Matching skills provision to employer needs
• Creating the conditions for economic growth
• Connecting the region through effective transport and
communication infrastructure
• Promoting the region's outstanding quality of life
• Reaxa's encapsulated catalyst technology was developed
from a mid-'90s joint venture between Professor Steve Ley's
group at Cambridge University, AstraZeneca, Syngenta and Avecia
Pharmaceuticals (now Piramal Healthcare).
• Serving the regulatory, environmental and cost agendas in drug development and commercial scale production, Reaxa's "easier, cleaner and faster" catalysis and scavenger technology helps to minimise both consumption and loss-in-process of high-value precious metals widely used in pharma catalysis. The reduce-and-recover strategy simplifies processes, reduces precious metal contamination in products and process waste and aids catalyst recovery and re-cycling.
• Alongside the UK's YFM Private Equity (YFM), Enterprise Ventures (EV) and private investors (via Acceleris plc), interests in Reaxa are held by Piramal Healthcare's Pharma Solutions business; Prof. Steve Ley, the company's management, first-round private investors and latest investor India's Mumbai-based S.Amit & Co.
• Reaxa began trading in mid-2005 after a spin-out from the then Avecia Pharmaceuticals, which launched the first EnCatTM catalysts in late 2003. Reaxa's R&D and corporate offices are located at Hexagon Tower in Manchester UK. See: www.reaxa.com
For further information contact:
Dr. Pete Jackson
Chief Executive Officer - Reaxa Ltd
Tel: +44 (0)161 721 1631/2202
Mobile: +44 (0)7711 796690
Fax: +44 (0)161 721 2005
pete.jackson@reaxa.com
Roger Johnstone
Deben Editorial Services
Tel: +44 (0)161 614 1450
Mobile: +44 (0)7841 433141
Fax: +44 (0)161 614 1450
rdj@debened.co.uk
