Meet the Fastest-Growing Private Companies in the Life Sciences Industry
Each year, Inc. Magazine presents a list of the 5,000 fastest-growing private companies in America. The average median three-year growth rate was 543% for the 5,000 companies featured on this year's list, with a median revenue of $11.1 million. Inc. ranked the companies based on percentage revenue growth from 2017 to 2020.
Several life sciences companies were sprinkled throughout this year's list. Here's a look at a few of the honorees.
Massachusetts-based 4G Clinical earned its spot on the list with a three-year revenue growth of 3,699%. The company develops randomization and trial supply management software for the life sciences industry. It offers a fully cloud-based, configurable and flexible solution to accelerate clinical trials. In June, the company announced that it would receive a growth equity investment of over $230 million from Goldman Sachs Asset Management to further 4G's mission of bringing crucial medicines more quickly to patients who need them.
SAB Biotherapeutics had an impressive 3,131% three-year revenue growth. A clinical-stage company, SAB is working to advance a new class of immunotherapies using fully human polyclonal antibodies. In June, SAB announced that it had entered into a definitive business combination agreement with Big Cypress Acquisition Corp. Once the transaction is complete, the combined company will operate as SAB Biotherapeutics and list on the Nasdaq.
California-based Gateway Genomics had a three-year revenue growth of 801%. Gateway is a genetic research company developing fetal and infant DNA technology to provide families with health and development information about their future child. A few months ago, Gateway announced the launch of its new self-administered device for fetal sex testing that eliminates the need for fingerstick blood collection. In a recent clinical study, it reduced pain from 78% to 10% for users.
Axiom Healthcare Strategies
Princeton-based Axiom Healthcare Strategies landed on the list with a 685% three-year revenue growth. Axiom is a think tank that challenges unmet needs in oncology and rare diseases. Axiom recently launched its Rare Disease Awareness Campaign, which highlights resources that are working to accelerate solutions for rare disease patients.
Meridian Clinical Research
Meridian Clinical Research, based in the Midwest, enjoyed a three-year revenue growth of 424%. The medical research company partners with biopharmaceutical firms to develop new drugs, medical devices and diagnostics. Meridian conducts Phase I-IV clinical trials at sites across North America. Meridian most recently opened a site in South Carolina, where clinical trials related to pediatrics will be conducted.
Florida-based e5 Pharmaceuticals saw a 413% three-year revenue growth. E5 is a pharmaceutical company that specializes in the development and distribution of generic prescription drugs. The company's focus is cost-reducing generic therapies and solutions. At the end of 2019, e5 announced the U.S. launch of the first generic version of Proglycem, a drug used to treat low blood sugar.
New Jersey-based Ascendia Pharmaceuticals saw a 333% revenue growth from 2017 to 2020. Ascendia provides formulation, analytical and manufacturing services to pharmaceutical companies to solve challenging drug problems and create advanced medicines. Earlier this year, the company announced it had received a growth equity investment from Signet Healthcare Partners, which will be used to fund facility expansions and growing demand in the sector.
Indiana-based Network Partners earned its spot on Inc.'s list with a 220% three-year growth rate. The company serves as a subject matter expert for medical device and biopharmaceutical companies, with knowledge in regulatory affairs, packaging engineering, labeling, quality and project management. In the spring, Network Partners acquired The FlexPro Group, a life sciences-focused project management consulting firm, to expand its services more broadly throughout the industry.
LabConnect, which provides central lab support services to meet clients' clinical development needs, landed on the list with a 133% three-year growth rate. The company offers innovative services in areas such as immuno-oncology, cell and gene therapies, and rare and orphan diseases. This month, LabConnect announced the expansion of its Johnson City facility to support its growth in cell and gene therapy and immuno-oncology studies.
From 2017 to 2020, Florida-based Belcher Pharmaceuticals saw a 72% three-year growth rate. Belcher is a niche pharmaceutical company focused on the development and manufacturing of prescription products in specialty-driven markets for humans and animals. The company operates across a broad range of therapeutic categories including antibacterials, gastrointestinal, pediatrics and women’s health.
*This list of life sciences companies is not all-inclusive. You can access the complete list of Inc. Magazine’s 5,000 fastest-growing private companies in America here.
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