Posted on April - 22 - 2010
Cyprotex gets French seal of approval
Drug-testing firm Cyprotex hopes to win more business from companies across The Channel after a ruling by the French government.
Macclesfield-based Cyprotex has received French research tax credit approval to 2011.
The decision means pharmaceutical, biotech and agricultural businesses which are subject to corporate tax in France will be able to claim relief on costs generated in research and development spending with Cyprotex.
Dr Anthony Baxter, chief executive of Cyprotex, said: “We are delighted to win this recognition and approval from the French Ministry of Research, which will provide greater opportunities to support our current client base and allow for improved collaborations with future French clients.”
AIM-listed Cyprotex tests drugs under development to see how they affect patients, and is investing £300,000 in its laboratories this year.
Last month, the firm rejected an unsolicited approach regarding a potential offer for the company.
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