Glasgow-based pharma group Alfacyte is to move to the life sciences business park BioCity Scotland later this month after recently securing £350,000 of investment to help develop its vaccine for the treatment of peanut allergy.
The group said it had decided on the switch to BioCity, home of a number of successful life science businesses just off the M8 at Newhouse in Lanarkshire, because it would meet “the needs of the growing business”.
Alfacyte received its funding in the summer from EOS Technology Investment Syndicate, supported by £120,000 from the Scottish Investment Bank’s Scottish Co-investment Fund.
The firm, founded in 2012, also received £100,000 from Scottish Enterprise’s Smart Scotland grant programme to directly fund development and production of the molecule that will form the basis of the vaccine.
Gillian Brown, Alfacyte’s chief executive, said: “BioCity offers not just excellent facilities but an opportunity to mix with similar companies.
“BioCity is more than just a location for our business, we can also benefit from the support and knowledge of its team and network.”
Peanut allergy affects 2 per cent of the population in the western world.