BioAscent reports promising growth as company marks tenth anniversary

Published: 08 April 2024

After celebrating BioAscent’s tenth anniversary in 2023, we are pleased to report promising growth in the wake of sustained demand for our services.

Despite challenging market conditions in 2023, BioAscent saw an increase in revenue across our service offerings including 20% growth in compound management, 27% for in silico discovery, and 14% in biosciences.

Established initially as a provider of compound management and logistics services after acquiring Merck Sharpe and Dohme’s state-of-the-art automated compound management facility at Newhouse near Glasgow, BioAscent has developed into a leading integrated drug discovery CRO, working with many of the most innovative biotechs across the globe to drive their small molecule drug discovery programmes.

Over this time, we have invested £3.5m in BioAscent’s facilities, and have reached some key milestones, having delivered:

At BioAscent, we have continually developed our fully integrated drug discovery offering, capable of taking a target from concept to candidate, and have since experienced significant year-on-year growth, growing from a core of eight staff as recently as 2018 to over 85 today. Critically, BioAscent has achieved this growth without diluting the expertise of the team.

Paul Smith, CEO at BioAscent says: “Drug discovery is underpinned by having the best scientists and the required kit and instrumentation. Our scientists have a median of 15 years industry experience, which we believe is unmatched in the industry, and it is this which is driving our growth. As a young and dynamic CRO, we need to continue to invest in technology and capabilities, win work competitively and deliver excellent science which results in customers coming back with more projects.

“2023 has been a challenging year across the industry, yet despite this difficult economic climate, customer demand for our specialist services and expertise prevails. Whilst the economic environment remains challenging, but we are cautiously optimistic about the year ahead, owing to the strength and expertise of our scientific team that continues to attract customers from across the world.”

Last month saw the opening of BioAscent’s protein production facility, marking the latest key investment, further strengthening its in-house drug discovery capabilities with the ability to deliver protein production in house, thereby implementing the most informative screening cascades for our customers.

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