Maven investees feature in Pharma Fast 50
Two of Maven’s portfolio companies have featured in this year’s Alantra Pharma Fast 50, which ranks the UK’s fastest-growing, privately-owned pharma and pharma service companies. The focus of the report is to highlight the businesses that have increased their revenues at the fastest rate over the past two financial years.
BioAscent, an integrated drug discovery services business, was recognised as this year’s top-performing outsourcer, having recorded a two-year compound annual growth rate (CAGR) of 67%. The company was ranked third in the overall listing recognising the quality of its research and development.
Maven invested in BioAscent in June 2018 and following our investment the business has been able to expand its service offering, adding complementary chemistry and biology services and capitalising on the growing trend towards the outsourcing of drug discovery activities. BioAscent now has enviable customer base of biotechs, virtuals, VC-funded academic spinouts and academic groups.
BioAscent has also been involved in the UK’s response to the Coronavirus pandemic, helping to set up a new testing facility in conjunction with the Scottish Government which will enable a significantly scale-up the testing of COVID-19.
Also featured in the 2020 Pharma Fast 50 report is Blacktrace, which designs, develops and manufactures cutting-edge scientific technologies and products for many applications in chemistry, microfluidics, biology, nanomaterial sciences and more.
At 23rd on the list, Blacktrace has recorded a two-year CAGR of 21%. Maven invested in the business in April 2016 and in recent years Blacktrace has successfully developed a range of innovative scientific products which are sold globally via dedicated brands across the biotechnology, pharmaceutical and particle engineering industry fields.
As an industry leader in microfluidics Blacktrace is dedicated to leading the way with a wide variety of innovative products in single cell research and microfluidic applications.
Both companies are examples of innovative and entrepreneurial businesses delivering strong returns in the UK pharmaceutical market. The rise of the contract research organisations, such as BioAscent, continues to grow as larger pharmaceutical businesses look to outsource early-stage drug development work. While companies like Blacktrace, which operates at the cutting-edge of new scientific technologies, has developed a range of a products which are being used across the world and playing a crucial part in the pharmaceutical industry’s value chain.
The full Alantra Pharma Fast 50 report can be downloaded from here.