With huge growth in demand for its services, Greater Manchester-based Seda Pharmaceutical Development Services (Seda) has acquired new property and is on track to double its annual turnover to at least £7million sterling over the next two years.
Image Credit: Seda
Seda provides pharmaceutical development and clinical pharmacology services to the pharmaceutical and biotechnology industries. These include:
- CMC and Clinical Pharmacology Counseling
- PK and PBPK modeling
- Translational PK-PD modeling
- Dose Selection and Dose Rationale
- Population PK and non-compartmental analysis
- Laboratory services
- Activated preclinical formulations
- Formulation and clinical processes in early and late phase
- Bio-Relevant and Clinically Relevant Dissolution Tests (CRDS)
- Standard and complex parenteral products (e.g. delivery of new modalities such as mRNA)
With growing demand for his services, he outgrew his current rental facilities in Macclesfield.
Santander UK, with whom Seda has done business since its inception in 2015, has provided it with £2 million in funding which includes support for the acquisition of its new property in Cheadle, Stockport.
Seda will undertake a comprehensive redevelopment of the new property, with a total investment of almost £4 million, developing state-of-the-art laboratories and bespoke offices. This will allow it to invest in new equipment in order to expand the range of services it offers to its customers. New facilities and equipment planned include treatment rooms for solid oral dosage forms (tablets and capsules) and improved facilities for parenteral products (injections). A particular area of interest is building capacity in prototyping and characterization of nanoformulations for the design and development of complex drugs such as lipid nanoparticles for mRNA delivery (as used in some Covid vaccines). These additions are crucial for Seda to meet the growing demand from customers around the world.
Seda, which recently won the Best Contract Research Organization (CRO) award at the 2021 OBN Awards, currently has 23 permanent employees and a network of associated expert contractors. It is working to increase its permanent staff to at least 50 by April 2024, initially by recruiting analysts, formulators, modellers, project managers and, later, non-technical support staff.
Purchasing our own facility allows us to make long-term capital investments in the capabilities our customers need – something that was not economically viable with our current rental property. It will also provide us with a great working environment for our growing team.
Thanks to the support of Santander UK, we were able to do this without taking on dilutive funding. Our continued independence allows us to maintain control of all decisions, future direction, and to maintain the highest scientific standards.
Paul Stott, CEO of Seda
Debbie Worthington, Relationship Manager at Santander UK, said: “Santander UK is well equipped to provide specialist support to companies in the pharmaceutical and medical sectors and we are delighted to see a company in this sector, which has done business with us since inception, grow so quickly and have such an exciting future. Seda makes a significant and positive contribution to medical science internationally and, as a banking partner, we are delighted to be able to support its continued expansion and success.