The firm, based at Stirling Innovation Park, provides manufacturing services to global biotechnology and pharmaceutical companies developing novel drug therapies and vaccines for use in clinical trials or the commercial market.
It has secured £1m of finance from Allied Irish Bank (GB) to support its growth strategy, which includes plans to hire 20 more staff by the end of 2020. The finance package follows a recent period of expansion by Symbiosis, part-funded by Innovate UK grant funding.
Chief executive Colin MacKay said: “The funding from Allied Irish Bank (GB) is a significant statement of support and endorses our growth strategy.
“We will be using that investment to proactively fuel the strategic development of our capabilities to enable further successful growth in both local and international markets. We want to increase our manufacturing output while maintaining the time-focused competitive strengths that our market has come to expect.
“It’s an exciting time for Symbiosis and we’re grateful for the support from Allied Irish Bank (GB) in recognising our potential for growth and their willingness to join us in a mutually-beneficial relationship.”
Tina Crookston, relationship manager at Allied Irish Bank (GB), said: “Symbiosis has consistently exceeded its business goals and has strong potential for growth. Life sciences is a billion-pound sector in Scotland and homegrown start-ups like Symbiosis are a critical part of that success.”
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