Lanarkshire life sciences firm on track for growth
Photography available
East Kilbride based life sciences company, Controlled Therapeutics, welcomed Scottish Enterprise chief executive, Lena Wilson today, 02 February 2010, to see first hand developments the company has underway as part of an ambitious £3.6m project of improvements.
The company, which was awarded a £930,000 Regional Selective Assistance grant in 2008, is nearing completion of its Peel Park facility’s upgrade in preparation to take delivery of a highly specialised polymer injection moulding equipment which will improve their manufacturing processes and increase capacity.
From the company’s East Kilbride-site it is active in manufacturing, R&D, pharmaceutical formulation, biochemistry, engineering, process technology, regulatory affairs and clinical medicine related to its innovative hydrogel drug release polymer. Its marketed product, the Propess™/Cervidil™ vaginal insert, is now sold in over 40 countries and has become the leading brand for the induction of labour.
The five year plan of investment is well on track to improve manufacturing consistency, increase capacity and further develop and exploit the company’s products and polymer technology platform.
Lena Wilson, chief executive, Scottish Enterprise, said: “Controlled Therapeutics is at the cutting edge of pharmaceutical development. It is clear to see the company is at an advanced stage in its ambitious improvement project and will undoubtedly see considerable business growth as a result of its investment.
“It has never been more important that Scottish companies raise their game and commit to developing new ideas and look at ways to improve their business – Controlled Therapeutics is an excellent example of a forward thinking company that is doing just that.
“We want to work with more companies like Controlled Therapeutics that boast not only the global growth potential but have the can do attitude to take their business to the next level.”
It is anticipated that once complete, the company’s investment in improving operations, will create 23 new jobs and safeguard the company’s existing 61jobs.
The company has been supported by Scottish Enterprise for a number of years and recently received an award to fund the development of a prototype applicator for use with two new products.
Cameron Macdonald, managing director at Controlled Therapeutics, said: “We were delighted to welcome Lena and introduce her to the team here. This is a really exciting time for our company and Scottish Enterprise has provided us with some invaluable support in recent years to look at how we can improve current capacity and accelerate the development of our new innovative products.”