Cheshire pharmaceuticals firm makes move to Cheadle

Cheshire firm, Seda Pharmaceutical Development Services has acquired a new property in Cheadle as it plans to double its turnover to £7 million in the next two years.

The company provides pharmaceutical development and clinical pharmacology services to the wider life sciences sector, and has seen a huge growth in demand for services since its inception in 2015, in part booster further by the coronavirus pandemic.

High street bank, Santander, has backed the pharmaceuticals firm with a £2 million funding package that will help support the acquisition of the new Cheadle property.

Seda will undertake a full refit of the new property, developing state-of-the-art laboratories and bespoke office space. This will enable it to invest in new equipment so it can expand the range of services it offers clients. A particular area of focus is building capabilities in nano formulation prototyping and characterisation for the design and development of complex medicines such as lipid nanoparticles for mRNA delivery (as used in some Covid vaccines). These additions are crucial for Seda to fulfil rapidly growing demand from clients worldwide.

Paul Stott, CEO of Seda said:

“Through the support of Santander UK, we have been able to purchase our own facility without taking any dilutive funding. This allows us to make long term capital investments in the capabilities that our clients need – something that was not economically viable with our current rental property. Our independence enables us to maintain control of all decisions, future direction and to maintain the highest scientific standards.”

Debbie Worthington, Relationship Director at Santander UK, said:

“Santander UK is well equipped to provide specialist support to companies in the pharmaceutical and medical sectors and we’re delighted to see a company in this industry, that has banked with us since inception, grow so rapidly and have such an exciting future ahead. Seda is making a significant and positive contribution to medical science internationally and as its banking partner, we are pleased to be able to support its ongoing expansion and success.”