News

Posted On: 01/22/2007

Welsh Life Science Institute Sees Funding Bonanza

PharmaManufacturing.com

The £3 million Boots Centre for Innovation is to be created within Swansea University’s Institute for Life Science to help researchers and entrepreneurs from around the world develop new products. The Centre, backed by a £300,000 Regional Selective Assistance grant from the Welsh Assembly Government, will use its facilities — and the Institute’s expertise — to assist innovators in developing new products for Alliance Boots plc. in areas as diverse as pain relief, skin treatments, diabetes and healthy aging.

Pioneering researchers and innovative small businesses will be able to bring promising ideas to the Boots Centre in Swansea to obtain scientific expertise, business know-how and financial backing, working with the Centre’s specialist staff to turn those ideas into valuable new products. And a partnership deal between Alliance Boots plc. and venture capitalists Longbow Capital LLP will offer the entrepreneurs access to investment funding.

The Centre will open for business in April, and will be a subsidiary of The Boots Company plc. Launching the project on Jan. 22, Sir Nigel Rudd, chairman of Alliance Boots plc, said, “The combination of Boots, the Welsh Assembly Government and Swansea University make a fantastic opportunity for the Boots Centre for Innovation to be a real powerhouse in product development around the world. Boots The Chemist was founded on the principle of entrepreneurship and improved healthcare, and today sees another important step in the history of the business.

"Ultimately, these products developed in Swansea could then be available in 2,400 Boots stores across the UK and through our extensive international networks. Our team will now be starting work on attracting medical researchers and entrepreneurs to our new Centre from around the world. Today is a proud day for everyone involved in getting this project off the ground. With such positive momentum it heralds the start of a great opportunity for Boots, for entrepreneurs everywhere and for Wales.”

Minister for Enterprise, Innovation and Networks, Andrew Davies added, “This is a truly exceptional project, which demonstrates the Welsh Assembly Government’s commitment to developing the knowledge-based economy in Wales. The fact that the group has decided to establish a new innovation centre in Swansea is testament to the skills and knowledge available at the University.

“I believe that the project will deliver increased investment in research and development in South Wales, and the development of more high-level skills to support innovation and R&D. I fully expect this Centre for Innovation to help drive the continued growth of technology and knowledge-driven firms in Wales.”

Swansea University’s vice-chancellor, Professor Richard B. Davies, said: “I am delighted to give the warmest of Welsh welcomes to the Boots Centre for Innovation. Swansea is an ambitious, research-led university undergoing unprecedented growth. We take great pride in the fact that Alliance Boots shares our own confidence in the future of the University and, in particular, recognises the strength of life science research in our new School of Medicine. We are particularly pleased to welcome the Centre for Innovation as our foundation tenant for the Institute of Life Science.

“It is vital, in creating a modern knowledge economy, that universities work increasingly alongside companies with the capacity and experience to commercialize innovative ideas. We look forward to a long and productive synergistic relationship with the Boots Centre, benefiting the University, the City, and Wales.”

Alliance Boots

Alliance Boots, an international pharmacy-led health and beauty group, has over 100,000 employees. The company also has:

• Retail healthcare outlets in the Republic of Ireland, Italy, the Netherlands, Norway and Thailand



• Pharmaceutical wholesaling businesses in the Czech Republic, France, Italy, The Netherlands, Norway, Russia, Spain and the UK



• Associate pharmaceutical wholesaling interests in Egypt, Germany, Portugal, Romania, Switzerland and Turkey



• Associate retail healthcare outlets in Italy and Switzerland



• Franchised retail healthcare outlets in Kuwait and United Arab Emirates



• Own-brand products sold through wholesale and to selected retail partners in Canada, Czech Republic, Finland, France, Hong Kong, Indonesia, Italy, The Netherlands, New Zealand, Norway, Portugal, Romania, Russia, Spain, Switzerland, Taiwan, the UK and the USA.