Simbec Research, has announced that former owners Dr Trevor Tanner and Mr Howard Jenkins, with investment from the Wales Life Sciences Investment Fund, have acquired the company from the Canadian Altasciences Group, to make it an independent Welsh company once more. The announcement comes days after Altasciences Group acquired US-based early phase unit Vince and Associates.
This is the maiden investment of the newly created £100m WLSIF fund managed by Arthurian and first announced by Professor Sir Christopher Evans in March 2013.
Professor Trevor Jones, board director at Arthurian and former head of research and development at Wellcome, will become chairman of Simbec and Professor Sir Christopher Evans will join Simbec’s board.
Simbec will continue to focus on the early clinical development of new medicinal products, offering a wide range of services for Phase I and Phase IIa studies. Simbec executive directors, Dr Trevor Tanner, (Director Scientific Affairs) and Howard Jenkins (Managing Director) will lead the company. Simbec currently employs 85 staff in clinical and medical sciences research and plans to expand to employ more than 100 staff with the backing of the fund.