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Cyprotex is setting up a new drug testing facility at BioHub in Alderley Park, Cheshire.

Cyprotex has acquired Apredica, the US pharmaceuticals research firm, for £2.7m.

Cyprotex is to double the capacity at its pharmaceutical testing laboratory in Macclesfield, with the creation of ten jobs.

Cyprotex, the Macclesfield-based drug discovery company, is to raise £1m in a share placing to fund the expansion of its commercial sales infrastructure and laboratories.

Cyprotex is planning to raise up to £11m in a flotation on Aim to invest in the launch of robotic testing equipment and software for use by pharmaceutical companies in the development of new drugs.