Chief Secretary to the Treasury, Danny Alexander, has today opened new Molpex labourites at Alderley Park made possible through a £1.2 million Regional Growth Fund (RGF) Round 4 grant.
He also announced a further £5.2 million worth of funding from RGF Round 5 to support two further projects by Redx Pharma and Abysynth Biologics, also based at Alderley Park.
The three companies have brought 252 new jobs to Alderley Park.
Molpex, an innovative biotech company, will create 127 jobs after receiving £1.2 million as part of their £4.7 million project to expand their production of its ground-breaking Optiplex system - an Artificial Intelligence and Robotics Laboratory System to discover and develop new drugs for cancer, resistant bacteria and personalised medicine.
Redx Pharma, which is a drug discovery company, will create 107 new jobs after receiving £4.2 million as part of their £25.7 million project to develop new drugs for metabolic diseases.
Abysnth Biologics, which is a vaccines and antibodies life sciences company, will create 180 jobs and safeguard three after receiving £1 million as part of their £3.1 million R&D project to develop new vaccines for global infectious diseases.
The Minister toured Molplex today to see how the cash from the Regional Growth Fund is helping to boost jobs.
Chief Secretary to the Treasury, Danny Alexander said "The Government's Regional Growth Fund is helping create thousands of quality jobs, stimulate private sector investment and rebalance the economy.
"I am thrilled to see that the people of Cheshire are to benefit. Companies like molplex, Redx Pharma and Absynth and the people that work there are helping us to build a stronger economy and a fairer society for this generation and the next."
Through the RGF, companies commit to creating jobs and investing in their regional economy in return for Government funding.