The move will add several new sites for the Boston-based company in the new city centre headquarters known as the Castle Wharf development.
After several months of negotiation, Parexel also has secured two grants from the Nottingham Technology Grant Fund (N’Tech) to support its move into Castle Wharf. The grants will help ensure the continued development of the Nottingham location as a global research centre and support Parexel’s development of new technologies for managing clinical trials. The grants totalled nearly £1m ($1.6m), according to the Nottingham Post, and were provided by Nottingham City Council and supported solely through the Government’s Regional Growth Fund.
Parexel currently has approximately 600 employees in Nottingham who work at five local facilities in the Meadow Grove/Lady Bay area, the company told Outsourcing-Pharma.com.
“Parexel’s Nottingham operations play an important role in helping the company advance the worldwide success of the biopharmaceutical and medical device industries in preventing and curing disease,” the company said in a statement. “We are pleased to have received grants from the Nottingham Technology Grant Fund to support our move and appreciate the support of the Nottingham City Council as we expand our local presence.”
Councillor Jon Collins, Leader of Nottingham City Council, added: “We are delighted with the announcement that Parexel will be expanding in the city. They are a company of international standing and also part of the life sciences industry, which is a strong point and a priority growth sector for the city. In Nottingham we have a long history of innovation in science, and as the city where Ibuprofen and the MRI scanner were invented, our record of breakthroughs makes us the perfect location for Parexel. There are some exciting developments ahead that will benefit the sector and the city as a whole.”