BioAscent has been recognised in the 2020 Alantra Pharma Fast 50, as the UK’s fastest-growing drug discovery CRO, coming out top of the outsourcing category and third in the overall listing.
Alantra’s annual report on the fastest-growing pharma companies was published this week by the Pharma Times. The listing comprises those businesses that have increased their revenues at the fastest rate over the past two financial years.
BioAscent ranked as this year’s top-performing outsourcer in the Alantra Pharma Fast 50, having recorded a two-year CAGR of 67%. With its origins in big pharma, BioAscent still occupies the same site from which MSD / Organon withdrew in 2011. The compound management facility that BioAscent inherited, and subsequently developed, is a unique differentiator. When combined with BioAscent’s expertise in assay development, medicinal chemistry and biology , this unique combination allows BioAscent to be a truly integrated drug discovery CRO.
Paul Smith, CEO of BioAscent commented: “We are delighted to have been recognised in the Alantra Pharma Fast 50 as the UK’s fastest-growing drug discovery CRO.”
He continues: “This is a market that’s now growing very rapidly. For the last two years, we have focused on growth by attracting highly experienced scientists to create an enviable team whilst expanding our offering to become an integrated drug discovery CRO. We have a highly scalable business and our core services can drive significantly more growth, including in the US.”
Private equity investment from Maven has also helped the business to accelerate and the company is now targeting international expansion.
“We now attract customers from across the globe that are looking for an expert, advisory CRO with a collaborative approach. Our scientists get involved in early drug discovery projects, enabling them to influence projects, ensuring the right decisions are made to maximise chances of success. I’d like to thank our customers for their support, and of course our outstanding team here at BioAscent. We look forward to continuing to exceed our customers expectations.”
To read the report in the March edition of Pharma Times, click here.
For the full report in PDF format, click here.