Redoxis second to move into our new laboratory building
In mid-July, Redoxis will be the second tenant to move into our state-of-the-art laboratory building for advanced research and medical development. In this 12,500 square metre, four-floor building, they will occupy the eastern part of the top floor.
Redoxis was founded in 2007 and moved into Medicon Village in 2012 as part of the incubator that today is SmiLe Venture Hub. Their core business as a CRO is to offer expertise in early preclinical drug development with a focus on inflammation and autoimmunity.
With their new location, they will have the proper platform to further grow their business and expect to attract new talent, aiming to increase their staff size from 20 to 35 within a few years. Being located near other similar companies brings many benefits, allowing collaboration, sharing of knowledge, and instrumentation.
– With more space to attract more competence, we have the platform needed to broaden our scope to meet increased demand, allowing implementation of new techniques and investments in new instruments, says Malin Hultqvist, CEO of Redoxis.
Redoxis has increased revenues yearly in recent years and is a profitable company. The challenge ahead is to keep growing at a steady pace with new clients in new markets, including the US, where business has been expanding steadily during the last few years.
Currently using laboratories in two different buildings at Medicon Village and having office space in a third, Redoxis will now gather all their operations in one area, which will increase their capabilities and add value to their service offerings.
Most of Redoxis' move will take place in July. From August, operations are expected to be running at more or less full speed.
The new laboratory building strengthens Medicon Village’s role as the natural hub for research and entrepreneurship in life sciences in southern Sweden. It provides opportunities for existing companies like Alligator Bioscience, Cellevate, Redoxis, SARomics Biostructures, and Truly to expand while also allowing new companies to establish themselves at Medicon Village as existing members move to the new building, generating chains of relocations.
Medicon Village plans to hold a formal inauguration of the building on the same day the recipients of donations from our owning foundation are announced (18 October), followed by an Open House on 28 January. More information on these events will be provided later.