The proceeds will be used to fund the Company’s acquisition-led and organic growth strategy. Quotient has identified and is in discussions with a number of acquisition candidates with a view to strengthening its growing market position in Europe and North America.

Quotient has completed four acquisitions since it was founded in January 2007. Its core businesses focus on the areas of early-stage drug development services for the pharmaceutical and biotechnology sectors, drug surveillance services for sport, and the manufacture and sale of critical reagents used for blood typing.

In May 2008, the Company consolidated its drug development services businesses under the name Quotient Bioresearch, renaming the parent company of the Group, Quotient Bioscience Group Limited.

Paul Cowan, Chairman and Chief Executive Officer of Quotient Bioscience, commented, "Quotient has recently undertaken an ambitious expansion program, establishing one of Europe’s leading drug development services groups. We are also major players in the drug surveillance and blood-typing reagents markets. Completion of this investment will enable us to continue funding growth through synergistic acquisitions and organic growth in our existing core businesses. We look forward to working in partnership with TA Associates to achieve this ambition.”

“We are pleased to complete an investment in Quotient at this exciting stage in its development,” said Jonathan Goldstein, a Managing Director at TA Associates who will be joining the Board of Quotient Bioscience. “The exceptional quality of Quotient’s services and superior management coupled with TA’s long history of helping companies grow and expand should allow Quotient to continue its impressive growth trajectory.”

Mark Carter, a Senior Vice President at TA Associates, will also be joining Quotient’s Board of Directors.

TA Associates has four decades of investing experience, focusing on profitable growth companies. The firm has extensive expertise in the healthcare sector, including investments in Alere Medical, Alma Lasers, American Access Care, CompBenefits Corporation, Coventry Health Care, Gulf South Medical Supply, Invitrogen Corporation, Logistics Health, MQ Associates, One Call Medical, Preferred Payment Systems, Triumph HealthCare, Twin Med and Youth and Family Centered Services.

Quotient was advised by Ernst & Young LLP and Mishcon de Reya. Ulster Bank continues to provide senior debt funding to the Group. Travers Smith and Goodwin Procter acted as legal advisors to TA Associates.