UK-backed firm buys vaccine facility from Benchmark Holdings

The deal is part of the UK government's 100-million-pound investment plan to boost its capacity to rapidly produce COVID-19 vaccines when they are available. CGT Catapult is supported by Innovate UK.

A firm backed by the UK government has purchased a vaccine manufacturing facility from healthcare company Benchmark Holdings as the country ramps up efforts to produce potential coronavirus vaccines. The London-listed company said on Thursday that Cell and Gene Therapy Catapult has bought its vaccine manufacturing facility at Braintree, UK for 16 million pounds ($20.36 million) in cash.

"This new ... center, alongside crucial investment in skills, will support our efforts to rapidly-produce millions of doses of a coronavirus vaccine while ensuring the UK can respond quickly to potential future pandemics," UK Business Secretary Alok Sharma said in a separate statement. The deal is part of the UK government's 100-million-pound investment plan to boost its capacity to rapidly-produce COVID-19 vaccines when they are available.

CGT Catapult is supported by Innovate UK. ($1 = 0.7857 pounds)