Pfizer sell-off is a shot in the arm for tech start-ups
THE former European headquarters of drugs giant Pfizer have become a booming centre for Britain’s small science and technology firms, with research groups queuing to set up offices at the site, the owners say.
Discovery Park, the new owners of the site in Sandwich, Kent, which Pfizer controversially decided to sell in 2011, said it was benefiting from improving levels of funding for research and development in science and technology. Pfizer also still employs 700 staff at the site.
Anna Stone, leasing manager for Discovery Park, said: ‘The site was bought in July 2012 and we had just five tenants then. Now we have over 80 and are rapidly on the way to 100, and think we’ll reach this in July.’
Discovery Park will have its first venture capital fund on site this month, Stone said, adding: ‘Kent County Council has a regional growth fund and it is easy to allocate to a normal business.
‘But for innovative firms it is not as straightforward so they have partnered with science and technology specialists.’
Meanwhile Discovery Park will also launch a new ‘shared lab facility’ where firms can use ‘weird and wonderful science equipment that is very expensive’ in partnership with Jaytee Biosciences.
The launch follows Pfizer’s withdrawal of its bid for AstraZeneca, amid claims that pharmaceutical giants must turn to smaller, nimbler firms for breakthrough drugs.
Stone said: ‘In Stevenage, Hertfordshire, there is the BioScience Catalyst park, which is well organised and has good facilities. Firms move there hoping to tap into GlaxoSmithKline.’ GSK has a major research centre there.
Other big hubs include Cambridge Science Park. In total there are 64 parks belonging to the United Kingdom Science Park Association.
Tenants at Discovery Park include a firm extracting venom from spiders and snakes to develop pain killers and one producing omega 3 from algae for use in food and cosmetics. However, its ten-year plan also includes a supermarket, petrol station, shops, 500 homes and possibly a hotel.
In October last year it was reported that the park was ‘on a knife-edge’ and was inviting retailers as it struggled to attract tenants.
Stone says: ‘Far from it. We have researched the best science parks in the world and found a sustainable environment works best with bakeries, rest areas, beauticians, nurseries and a whole hub of activity.
‘We have created a community of tenants including accountants and lawyers so that companies can focus on what they do best – innovation.
‘They use our solicitors, patent experts, recruitment companies, and accountants to help with R&D tax credits, for example. It is a well integrated network.
‘The firms have a lease that is quite flexible as they may not know what they are going to be doing in three months, let alone six months.’
Last week, specialist life science venture capital group Epidarex announced it had £50million available to British science start-ups, including university spin-outs.