Red Glead Discovery signs a new agreement for continued expansion at Medicon Village

Red Glead Discovery AB, which recently received Lund municipality’s Business Award for 2023, has signed an agreement with Medicon Village that ensures possibilities for continued expansion over the next 10 years. “The agreement is an important step in our journey towards becoming the leading drug discovery company in northern Europe by 2027, with Medicon Village as our home base,” says Johan Evenäs, CEO of Red Glead Discovery AB.

Red Glead Discovery AB was founded in 2011 by seven scientists previously employed at AstraZeneca who decided to stay when the pharmaceutical giant chose to move its research division out of Lund. In 2016, the company graduated from the business incubator SmiLe and has been located at Medicon Village in Lund since its founding.

With expertise in designing and executing on drug discovery, Red Glead Discovery offers services in the development of small molecule or peptide leads and clinical candidates. Over the years, the company has helped hundreds of clients towards the development of new therapies, and the team has grown from 7 to nearly 60 employees.

Thanks to its rapid growth, Red Glead Discovery has been awarded the Gazelle prize by Dagens Industri several times over the years, and in 2023 the company was awarded Lund municipality’s Business Award, where its strong commitment to sustainability was specifically highlighted by the jury.

Being a rapidly expanding company presents its own set of challenges however, not least in the quest for appropriate facilities. High occupancy rates at Medicon Village have also posed challenges in meeting these demands effectively. This situation changed when Medicon Village Fastighets AB decided to make substantial investments in its property portfolio, thereby creating new opportunities that have enabled Red Glead Discovery’s continued expansion in Lund.

The parties have now reached a 10-year lease agreement. In the first phase, this agreement encompasses an expansion of 3,700 square meters of laboratory and office space for Red Glead Discovery. The expansion entails the company taking over the entire Building 403 at Medicon Village.

-Our goal is to become the leading drug discovery company in northern Europe by 2027. We’re witnessing a tremendous interest in our services, and this agreement represents a crucial milestone in our continuing journey of growth, with Medicon Village in Lund as our home base, says Johan Evenäs, CEO of Red Glead Discovery AB.

-We are both proud and delighted that Sweden’s leading company on preclinical research services within the pharmaceutical sector has chosen to continue to grow here at Medicon Village. The innovation environment we can provide for life science companies in the Nordics is second to none, and we look forward to strengthening Swedish life science together with our 180 member companies, says Erik Jagesten, CEO of Medicon Village Fastighets AB.

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