Making the production of pharmaceutical drugs easier, quicker, cleaner and cheaper is the aim of new company, Reaxa Ltd, founded by Professor Steven Ley of the University of Cambridge with partners including the leading fine chemicals company Avecia.
Making the production of pharmaceutical drugs easier, quicker, cleaner and cheaper is the aim of new company, Reaxa Ltd, founded by Professor Steven Ley of the University of Cambridge with partners including the leading fine chemicals company Avecia.
Professor Ley’s expertise lies in developing new synthetic approaches to complex drugs. Using catalysts and scavenger technologies, Reaxa’s products will reduce metal contamination and clean-up costs and enhance re-cycling of expensive materials otherwise prone to loss within current production processes.
Professor Steven Ley said: “I am delighted that the fruits of our collaborative research over many years within the Department of Chemistry are forming a basis for Reaxa to develop cleaner technologies for large scale pharmaceutical and chemical production.”
Dr Pete Jackson, Co-founder and CEO of Reaxa said: “Reaxa’s clean catalysis technologies particularly address sustainability issues, via innovation in both existing chemical toolkits – and the advance of new catalyst-based programmes. We are very pleased to be collaborating with Professor Ley on this new venture.”
Reaxa expects to generate annual revenues in excess of £10million by 2009. The company will be based at Avecia’s UK Business Centre at Hexagon Tower, Blackley, Manchester.
Other founders include Dr Ian Baxendale of the Department of Chemistry, Dr Angela Morris, formerly of the Department of Chemistry and Dr David Pears, formerly Head of the Core Polymer Technology Group at Avecia.
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