Minister’s visit to Suffolk plant highlights scope for freeport investments
Six months ahead of the opening of the new Assan Panel factory in Stowmarket, Alex Norris, the minister for freeports last week met with executives from the company, Freeport East and the Turkish ambassador to the UK to look at further opportunities to boost bilateral trade. They reviewed progress on the Turkish company’s new building materials plant at Gateway 14 in Suffolk and wider developments across the Freeport East region. Assan Panel’s new £45 million plant covers 87,000 sq ft and will create around 100 jobs. It will boost the UK’s capacity to produce advanced panel systems and its export potential, helped by the site’s proximity to the Port of Felixstowe. Opportunities for further clean energy and manufacturing investments supported by an expansion of the local energy grid were also discussed. Alex Norris, said: “We are committed to driving growth in our communities and across the UK through our Plan for Change. Freeports have a crucial role to play in that mission. The Assan Panel factory in Suffolk is a great example of the investment freeports can attract, in this case supporting both the advanced manufacturing and clean energy sectors.”
Separately, a Quebec-based investment group, La Caisse, is to invest up to £1.7 billion in Sizewell C nuclear power station to take a 20 per cent stake in the project. The group has a track record in delivering large scale infrastructure projects globally.
Princess Royal opens new Cambridge R &D facility with potential to tackle diseases globally
The Princess Royal last week opened a new $10 million R &D facility in Cambridge for Insmed Incorporated, global biopharmaceutical company supplying therapies for patients facing serious diseases. The Nasdaq-quoted company, which has an hq in New Jersey and a UK base in Shoreham in Sussex, is expanding its R &D presence in Cambridge with a new site focused on synthetic rescue for serious diseases. Chair and CEO Will Lewis said: “The work we are doing in Cambridge is central to our research and development at Insmed and has the potential to deliver much-needed therapies for patients with serious diseases globally.” The company said that the new 17,000 sq ft facility on the Babraham Research Campus contributes to the UK’s global position in biotechnology innovation.
Dr Tom Heightman, SVP of research at Insmed, added: “Our work in synthetic rescue was developed in Cambridge and the opening of this site marks an exciting new chapter in our relationship with this region and across the broader life sciences industry here in the UK.” The firm’s Cambridge R&D team will continue to work with Insmed’s other research sites in New Jersey, New Hampshire and San Diego in the US.
Cambridge life sciences firms to gain from sector plan but could still face funding gap
Cambridge stands to benefit from the government’s life sciences sector plan which was published last week but firms in the industry could still faces a funding gap as they look to scale up, according to a specialist in the area. Laragh Jeanroy, office managing partner in Cambridge and co-head of life sciences at RSM UK, said: “The strong emphasis on life sciences is set to significantly benefit Cambridge by reinforcing its position as a global leader in biotech and health innovation. Central to this is a £600m AI-ready health data platform to be based in Cambridgeshire, which will attract top talent and investment, while enabling advanced research in genomics and AI-driven medicine. The strategy also supports Cambridge’s thriving startup ecosystem through streamlined regulation and procurement, and enhances regional collaboration via a renewed focus on the Oxford-Cambridge corridor.” But she added: “The additional funding for the sector is great news, but there’s a risk this is too heavily weighted towards start-ups, meaning many businesses looking to scale up lose out again. By providing targeted funding throughout the business lifecycle, this will enable the UK to unlock the full pipeline of potential in the sector.”
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Government-backed bank boosts region’s economy by £800 million
The government-backed British Business Bank supported 2,200 businesses for the first time across the East of England last year, boosting the region’s economy by £800 million and creating 3,000 new jobs and supporting a further 24,400 roles. The bank’s Impact Report says an extra £1.7bn of additional business turnover can be expected in the region over the lifetime of the finance. The bank’s overall financial capacity was raised to £25.6 billion in the recent spending review to allow annual investments of around £2.5 billion and attract more third party capital. The uplift includes a new investment fund for the East of England, giving businesses access to a share of a further £350m from the bank.
Cambridge spin-out moves to larger space with plans to expand
Cambridge spin-out William Oak Diagnostics has let around 2,500 sq ft of commercial laboratory and office space in Bourn’s Bertarelli Building (right). The firm, which focuses on micronutritional deficiencies and at-home diagnostics capabilities, is moving from start up premises at the university’s West Campus. Founded by Dr Alex Patto, CEO, and Tim Dwyer, CTO, two and a half years ago, William Oak Diagnostics has six staff and plans to recruit and expand the business to accelerate the development of its products. Eddisons Cambridge agency arranged the letting.
Family-run accounting practice relocates to innovation centre
Family-run accounting practice 1 Accounts has relocated from the centre of Haverhill to The EpiCentre on the town’s research park. The firm comprises five members of the Donno family, together with 13 support staff. Former Suffolk Chamber chairman and 2023 Bury Free Press business leader of the year award-winner Paul Donno founded the business in 2013 with wife Jenni. They have since been joined by daughters Jade and Katie and Jade’s husband Josh. Director Jade Donno said: “We decided to move to The EpiCentre, because of the great business community they are building there. We love the networking events that they have every month. They provide a really good opportunity for us to meet other business owners, both from within the centre and from outside….”
Senior promotions at law firm recognise ‘outstanding contribution’
Ellisons Solicitors has made a round of senior promotions at its core practice areas across its offices in Essex and Suffolk. Molly Frankham (dispute resolution – property litigation) and Lauren Philpot (commercial property) have been promoted to senior associate, while Laura Read (dispute resolution – contentious trusts and probate), Lewis Barber (rural affairs), Mark Stafford-White (medical negligence) and Nathan Howe (commercial property) have been promoted to associate. In addition, Emma Linger, has been promoted to legal director and becomes the firm’s compliance officer for legal practice. Managing partner Guy Longhurst said: “These promotions recognise the outstanding contribution each of these individuals has made to their clients and colleagues. Their technical expertise, professionalism and commitment to achieving the best possible outcomes embody the values we hold as a firm.”
Photo (l-r): Nathan Howe, Molly Frankham, Laura Read, Lauren Philpot, Emma Linger and Lewis Barber
Law firm appoints head of AI as part of growth strategy
Law firm Mills & Reeve, which has a network of offices including Norwich and Cambridge, has appointed Iain Murdoch (right) as head of legal AI as part of its 2030 growth strategy. Having joined the firm in 2022 as a construction lawyer, he is taking on the newly-created role to help drive service delivery and efficiencies through the use of legal AI. He said: “My role will enable us to explore more deeply some of the AI challenges that are coming down the track. What does that mean for law, the business of doing law and what does the future law firm look like? Our job is to future-proof the firm for 2030 and I’m really excited to be part of that journey.” He will be based in the firm’s Birmingham office, but will have a nationwide remit on legal AI, including Manchester, Leeds, London, Cambridge, Norwich and Oxford.
‘Constantly busy’ offshore support vessel christened in Norfolk
A new addition to north Norfolk-based Tidal Transit’s fleet of purpose-built crew transfer vessels Imogen Rose was christened in Great Yarmouth last week. A ceremony formed part of a wider event hosted by energy company Equinor to mark completion of a modification project at Sheringham Shoal Offshore Wind farm. The vessel’s first charter was to energy services supplier Stowen Group, supporting the firm’s contract with Equinor on the wind farm. A frontrunner for next-generation electric builds, the vessel features future-proofed hull design and onboard systems, allowing her to be retrofitted in with zero-emissions power supply and propulsion. Leo Hambro, commercial director of Tidal Transit, said: “Imogen Rose has been constantly busy since delivery earlier in the year, so we’re delighted to have been finally able give her the belated christening she deserves.”
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