Economy Minister Edwina Hart joined the ReNeuron Board this week on a tour of their new premises at the Welsh Government’s state-of-the-art Advanced Therapy Medical Productions manufacturing facility at Pencoed.
ReNeuron plc, the leading clinical stage stem cell business, has now relocated its operations from Guilford, in a move that was supported by the Wales Life Science Investment Fund and is anticipated to create up to 70 high skilled jobs.
Welcoming CEO Olav Hellebø and the Board to Wales for its first meeting in the new facility, the Minister said: “ I am delighted ReNeuron has chosen to grow its business in Wales. Its pioneering work in stem cell therapy and regenerative medicine is renowned internationally and their decision to move to Wales, together with other significant investments from the Fund, is helping to bolster Wales’ international reputation in Life Sciences.
“To date the Wales Life Science Investment Fund has generated over £200million co-investment which is expected to contribute to the creation of almost 500 quality jobs in Wales over the lifetime of the Fund.
“The Fund has already made 11 investments in nine businesses, of which; six are new inward investors to Wales, two and indigenous businesses and one is a new co-established business in Wales.”
The Minister added she was pleased to note that Wales was ranked by Deloitte as the third best performing region in the UK for Life Sciences investment in 2015 which showed the Welsh Government strategy to grow the sector and attract new investment is delivering results.
ReNeuron , the AIM-listed company is taking over the entire 25,000 sq. ft. ground floor of Therapia where office accommodation and laboratories have been completed and work is continuing, as planned, on the fit-out and eventual validation and licensing of the manufacturing areas of the facility.