£30m fund attracts new deal
A £30M life sciences fund launched in Cheshire East has sealed its first investment deals.
Greater Manchester and Cheshire Life Sciences Fund, a partnership which includes Cheshire East Council, has invested in cancer therapy firm Pronec, based in Alderley Park and Manchesterbased start-up Biorelate.
It marks another step forward towards delivering 7,000 new jobs in life sciences at the former AstraZeneca site at Alderley Park.
Councillor Peter Groves, Cabinet member for finance and assets, said: “This is excellent news for Cheshire East and the wider region.
“I’m delighted that the fund has successfully completed two seed investments in two very exciting and innovative companies.
“Cancer therapy company Pronec and Biorelate, which provides biomedical knowledge databases, are both recent start-ups that have already made excellent progress.”