Blue Stream Laboratories Doubles Capacity to Handle New Clients, Continued Growth
Plans to Increase Hires by 30 Percent to Support Immediate Growth Objectives
WOBURN, MA--(Sep 24, 2014) - Blue Stream Laboratories, an advanced analytical laboratory specializing in recombinant glycoprotein and complex biologics characterization services, has completed a move into larger space in Woburn. By doubling the size of its former Cambridge facility, Blue Stream can expand its services while continuing to provide unmatched responsiveness to clients.
The company expects to increase its headcount by 30 percent over the next year to accommodate continued growth. Over the past year, Blue Stream has experienced double-digit growth due to its biophysical characterization services, mass spectrometry laboratory, and comprehensive biosimilars support programs. Founded in 2006, Blue Stream supports and enhances its clients' innovation through the lab's deep expertise in product characterization, cGMP lot release, and stability program support.
"We continue to add new clients each month, especially among mid- and large-biotech companies, both in the U.S. and in Asia. This growth puts Blue Stream on pace for more than a 50 percent increase in revenue over 2013. Our services for biosimilars are thriving," said Michael Kouchakdjian, Ph.D., President of Blue Stream Laboratories. "Given our sustained growth over the last several years, we felt it important to expand our capacity, invest in new equipment and additional hires."
Blue Stream is benefiting from an industry-wide increase in outsourcing, and a review and approval process for biosimilars that is substantially more comprehensive in the area of analytical characterization than for small molecule generic drugs. According to research firm Frost & Sullivan, the global market for biosimilars will grow to $23b in five years, up substantially from $1.2bn in 2013.
"As we grow, we will continue to focus on improving our unmatched expertise, methods, quality, and personnel," Kouchakdjian said. "By offering clients high quality data coupled with in-depth interpretation and analysis, we can help clients make better-informed decisions, more quickly and with greater confidence as they advance their development programs. With our significant years' experience in advancing client programs, we operate routinely with a well-developed ability to anticipate problems, avoid delays, prevent errors, and pre-empt issues that could otherwise give rise to delays and cost overruns."
About Blue Stream Laboratories
Blue Stream Laboratories is an advanced analytical laboratory specializing in recombinant glycoprotein and complex biologics characterization services. Blue Stream supports pre-IND through cGMP clinical phase product development programs for product characterization, cGMP lot release, and stability program support. Located 10 miles outside of Boston, and serving companies throughout the U.S. and overseas, Blue Stream's clients range from small start-ups and virtual biotechs to Fortune 500 pharmaceutical and medical device companies. For more information, please visit the company website at www.bluestreamlabs.com.
CONTACT INFORMATION
Media Contact:
Margaret Bonilla
Birnbach Communications
603-548-0693
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