£1.6m to fund pharmaceuticals jobs - graduate jobs

UK graduates in the pharmaceuticals research field may benefit from a Government-funded cash injection of £1.6 million for Nottingham-based manufacturing firm Molecular Profiles.

The money will create 62 jobs at the company, which provides pharmaceutical and biotechnology specialist contract research in pharmaceutical formulation and small-scale manufacture.

The cash comes from the Government's Regional Growth Fund (RGF), which contains £1.4 billion for the funding of projects to create long-term jobs and sustainable growth in local economies. It will be added to an additional £7.2 million from the company, which will be used to buy land, construct a 30,000 square-foot research and development facility and purchase equipment for a new laboratory.

So far, £450 million has been awarded to 50 projects across the country during the first round of the RGF.

Business secretary Vince Cable said: "This is a significant boost to the economy in Nottingham, an area which boasts a notable pharmaceutical and biotechnology sector."

Copyright Press Association 2011