A high-flying University of Sheffield spin-out company has soared through the economic downturn and ranked 15th on a list of the fastest-growing businesses in the UK.
Simcyp, a modelling and simulation company that spun out of the University´s School of Medicine and Biomedical Sciences in 2001, has been recognised for doing its fair share to revive the nation’s flagging economy following independent research conducted by Business XL.
According to the study, Symcyp, whose Simulator allows pharmaceutical companies to evaluate medicines in virtual people, experienced a turnover of £3.1million last year - an increase of 56 per cent compared to the previous year. Pre-tax profits also rose to £1million.
Business XL magazine’s annual Rising Stars research identifies the top 50 fast-growing UK companies and is the only such ranking to take into account both profit and turnover growth, as well as assessing future prospects through interviews with the featured companies. This year, the 50 Rising Stars have combined sales of £1.3 billion and profits of £147 million.
Director of Scientific Research and Development at Simcyp, Professor Amin Rostami-Hodjegan, who is also Professor of Systems Pharmacology at the University of Sheffield, said: “For a university spin-out to be recognised as one of the fastest growing companies in the UK is fantastic and an achievement of which we are very proud.
“Our research and development is guided by the Simcyp Consortium of pharmaceutical companies which allows us to deliver world-class science geared towards the needs of the industry. It is this close collaboration that underpins Simcyp’s success.
“Simcyp continues to go from strength to strength, investing heavily in researching, developing and expanding the team to ensure future growth.”
For more information on the UK’s top growth companies, visit: www.growthbusiness.co.uk/channels/entrepreneurs/business-leaders/1075262/the-uks-top-growth-companies.thtml
For further information about Fusion IP and its portfolio company, Simcyp please contact:
Fusion IP +44 (0)114 275 5555 David Baynes, CEO Tony Gardiner, CFO
Seymour Pierce +44 (0)20 7107 8000 Chris Howard, Corporate Finance Catherine Leftley, Corporate Finance David Banks, Corporate Broking
Buchanan Communications +44 (0)20 7466 5000 Tim Anderson Lisa Baderoon Catherine Breen
About Fusion IP
Fusion IP plc, previously called Biofusion plc, was established in 2002 to commercialise university-generated IP. Fusion IP has signed long term agreements with two of the UK’s leading research intensive universities, the University of Sheffield and Cardiff University, giving a combined R&D spend attributable to Fusion IP of approximately £185 million a year.
Fusion IP’s first agreement was a ten-year exclusive arrangement with the University of Sheffield for the commercialisation of IP owned by the University initially in the area of medical life sciences. This agreement was expanded in July 2008 to include the commercialisation of all non-life science research-generated IP, giving Fusion IP access to all of the University’s world class research in areas such as energy, engineering and electronics. Fusion IP has shareholdings in a portfolio of Sheffield University spin-out companies including Asterion, Diurnal, Magnomatics and Phase Focus. The University of Sheffield will be spending approximately £1 billion of research funding over the lifetime of the Sheffield Agreement.
In January 2007, Fusion IP completed a long-term exclusive agreement with Cardiff University, to commercialise 100% of all Cardiff University’s research-generated IP. Fusion IP has shareholdings in a portfolio of Cardiff University spin-out companies including Mesuro and Q-Chip. Cardiff University will be spending more than £1.0bn of research funding over the lifetime over the life of the Cardiff Agreement.
Fusion IP also has a Memorandum of Understanding with Finance Wales, the provider of commercial funding to Wales-based SMEs, which outlines a strategy of co-investment in opportunities arising from the Cardiff University agreement.
