Sector Scientific Technology
Deal Type Growth Capital
Initial Investment June 2018
Transaction size £1.6m
Location Newhouse
Maven Office Edinburgh
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About BioAscent

BioAscent’s service supports pharmaceutical companies during the discovery phase, to help identify potential drug candidates for preclinical trials and test the interaction of a drug against over 1 million chemical compounds, providing a detailed profile of the absorption, distribution, metabolism and toxicity of a drug. Establishing and maintaining a comprehensive collection of compounds in optimum conditions requires significant time and up-front investment, beyond the financial and technical resources of most small to medium sized clients, so compound management is rarely found outside large pharmaceutical companies.

With an increasing trend towards the outsourcing of drug discovery to contract research organisations, a key differentiator for BioAscent is its high-capacity, state-of-the-art R&D facility near Glasgow, acquired from industry giant Merck Sharp & Dohme in 2010, which can house client compound libraries each consisting of up to a few hundred thousand compounds and allows BioAscent to offer a cost-effective alternative to maintaining in-house facilities for larger Tier 1 pharmaceutical and biotechnology companies.

BioAscent offers enviable, world-class expertise in the key drug discovery disciplines of biosciences and medicinal chemistry. With our established compound management and screening facilities we can work with clients right from the earliest stages of the drug discovery process, which gives us a stand-out advantage over other providers.
Paul Smith, CEO at BioAscent
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