Renovo, which specialises in scar reduction, is to take a further 2,300m2 at UMIC’s Core Technology Facility (CTF) after out-growing its current facilities at UMIC’s Manchester Incubator. The company will keep some space within the Incubator building.
Renovo has 170 employees and has experienced rapid growth since forming in 2000 thanks to major contract wins, including a deal worth more than £400m with drug making giant Shire.
The CTF is a four-storey facility that provides specialist accommodation for companies that are commercialising biotechnology. Renovo’s space is currently being refurbished to include fume cupboards and tissue culture cabinets and will be occupied by the beginning of 2008. The refit is being part-funded by NWDA.
Financial director at Renovo, Robin Cridland, said: ‘Renovo is now a fully fledged biotechnology company with a main market listing on the London Stock Exchange, so we are not simply an incubator company any more. We looked at other options for facilitating our expansion but Manchester University is a world leader in intellectual property commercialisation and we have received valuable support from UMIC over the last seven years. It makes sense to stay in UMIC facilities.’