Accelovance Inc. – a global clinical research organisation – is establishing its European Headquarters in Wales – creating 70 highly skilled jobs in the Swansea area with Welsh Government support.
The news was announced today (Wednesday 12 August) by Economy Minister Edwina Hart who welcomed the inward investment and said Wales was chosen above a number of other locations that were under consideration.
Accelovance, which is headquartered in Rockville, Maryland, has a small base in Bury St Edmunds in Cambridgeshire and chose to locate its new clinical research facility and European HQ in Wales to support its rapid expansion into the UK and European market.
The inward investment, which is supported by business finance from the Welsh Government, will create seventy highly paid jobs over the next two years.
The Minister said:
“Wales is making a name for itself as a great location for businesses in the life sciences sector and gaining a reputation as a UK hotspot for pharmaceutical services. Accelovance is a most welcome addition to the sector and its presence will enhance our reputation in this particular field.
“This is a great project for Wales and a significant investment. I am delighted to welcome Accelovance and the substantial number of highly skilled, well paid jobs it will create.”
Accelovance Europe, Ltd.’s Managing Director, Mr. Nigel Trim, will oversee the office expansion locally.
Jamie Oliver, Pharm.D., Executive Director for European and Asian Operations said:
“This opportunity provided by the Welsh Government will allow us to shift our primary UK operations to this region which provides a highly-talented scientific workforce to support the continued growth of Accelovance,”.
Steve Trevisan, Accelovance CEO added,
“We are grateful for the Welsh Government’s support and are excited about our new expansion in Wales. The assistance provided by the Welsh Government was critical in our decision to make Wales our UK home.”
The global CRO market is rapidly expanding and worth an estimated $23.6bn in 2014 and expected to grow at an annual rate of 8% reaching $32bn by 2018.
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