Newmarket, United Kingdom, December 15, 2008 – Quotient Bioscience Group Limited (“Quotient”), a leading European provider of analytical and safety evaluation services and products for bioscience and sport, is pleased to announce that it has acquired Pharmaceutical Profiles Group Limited (“Pharmaceutical Profiles”). Pharmaceutical Profiles will become an important member of Quotient’s Drug Development Services Group - Quotient Bioresearch.
Founded in 1990, Pharmaceutical Profiles is a leading provider of specialist Phase I drug development services to the global pharmaceutical and biotechnology industries, including the development of optimised oral, intravenous, and inhaled clinical dosage forms. Pharmaceutical Profiles offers its clients an integrated formulation development, manufacturing, and clinical testing platform incorporating a range of innovative technologies, enabling timelines and associated costs to be significantly reduced. The Company is based in Nottingham, UK and has 75 employees.
The combination with Pharmaceutical Profiles will offer Quotient Bioresearch a unique opportunity to provide its clients with a truly integrated metabolic sciences service offering, spanning radio synthesis through to human AME studies. It will also continue to build on Pharmaceutical Profiles’ unique position in accelerated clinical formulation development. These integrated approaches should allow our clients to realise major efficiencies prior to moving into late phase drug development, whilst making Quotient Bioresearch a world leader in radiolabelled (“14C”) drug development.
Mark Egerton will remain as the Managing Director of Pharmaceutical Profiles, which will continue to operate from its existing Nottingham Phase I facility. Pharmaceutical Profiles will change its name to Quotient Bioresearch over the next six to twelve months.
Pharmaceutical Profiles represents the fifth acquisition to date for Quotient, which was established in early 2007. In July 2008, Quotient completed a £35 million equity fundraising with TA Associates, providing resources to continue the acquisition-led growth strategy of the Group. The enlarged Group will have revenues approaching £40 million and employ over 450 people in the UK and US. Quotient will continue to operate from its existing sites in Newmarket, Rushden, Nottingham, Edinburgh and London.
Paul Cowan, Chairman and Chief Executive Officer of Quotient said, “We are delighted to have completed the acquisition of Pharmaceutical Profiles. It brings with it a world-class reputation and an innovative service offering, which we plan to expand. It fits extremely well with our strategy of adding complementary drug development capabilities to the existing service offering of Quotient Bioresearch.”
“We continue to experience considerable growth in demand for the range of specialised drug development services we offer, which are focused in the early stages of drug development. The combination with Pharmaceutical Profiles will allow Quotient Bioresearch to both increase capacity and extend the range of services it can offer. In particular, we will be able to provide an integrated metabolic sciences capability, offering our clients considerable efficiencies and benefits in the process” Cowan said.
Mark Egerton, Managing Director of Pharmaceutical Profiles, said, “The combination of Pharmaceutical Profiles and Quotient Bioresearch is an extremely exciting step in our growth plan. The combination offers great promise, both for our employees and for our clients. Having established a strong franchise in our specialised area of drug development services, we now look forward to accelerating our development as part of Quotient Bioresearch.”
The Quotient Bioscience Group comprises Quotient Bioresearch, HFL Sport Science and Alba Bioscience. Quotient Bioresearch provides a range of specialist, early-stage drug development services; HFL Sport Science is the world’s premier drug surveillance and doping control laboratory for sport; and Alba Bioscience is one of the world’s leading manufacturers of monoclonal reagents for blood typing.
Quotient Bioscience had grown rapidly in the past two years, through a combination of both acquisition-led and organic growth. Further acquisitions are anticipated with a view to offering clients a broader, unified range of services.
Quotient Bioscience is a rapidly growing, Fordham based UK Group focused on the provision of high value-added analytical and safety evaluation services and products for bioscience and sport. Founded in early 2007 by Paul Cowan, Quotient Bioscience has completed four acquisitions in the United Kingdom – HFL Limited (formerly the Horserace Forensic Laboratory) in January 2007; Alba Bioscience (Edinburgh) Limited in August 2007; GR Micro Limited (London) in September 2007; and BioDynamics Research Limited (Northants) in February 2008.
Quotient Bioscience reorganized its drug development services business under the Quotient Bioresearch name in May 2008. With its services focused on radiosynthesis, drug metabolism, bioanalysis, biomarkers and microbiology, the drug development services business of Quotient Bioresearch serves over 140 pharmaceutical and biotechnology companies worldwide (including many of the worlds most important pharmaceutical companies).
HFL Sport Science, a division of Quotient Bioresearch, is a world leader in the provision of drug surveillance services for sport.
The Biodiagnostics division of Quotient Bioscience, trading as Alba Bioscience, is a world leader in the manufacture and sale of critical reagents used for blood typing. In September 2007 Alba Bioscience received FDA approval to distribute certain of its monoclonal reagents in the USA. Approval has also recently been received to distribute the same products in Canada.
Quotient Bioscience is seeking to maintain its current rate of growth through a combination of both organic growth and acquisition-led growth (both in Europe and in North America).
For further information: www.quotientbioscience.com.