Quotient Bioscience Group, the UK company making its mark in early-stage drug development, has delivered on its recent promise to carry on pursuing a vigorous expansion strategy by acquiring Pharmaceutical Profiles Group Limited, a Nottingham-based provider of specialist Phase I drug development services to the global pharmaceutical and biotechnology industries.
The financial terms of the acquisition, Quotient’s fifth to date, were not disclosed. Pharmaceutical Profiles will change its name to Quotient Bioresearch (Quotient’s drug development services group) over the next six to 12 months, while continuing to operate from its existing Phase I facility in Nottingham, UK. Mark Egerton retains his position as managing director of the acquired business.
Pharmaceutical Profiles was founded in 1990 and has a staff of 75. Its integrated formulation development, manufacturing and clinical testing platform, which includes developing optimised oral, intravenous and inhaled clinical dosage forms, enables clients to reduce significantly Phase I timelines and costs, Quotient said.
Combining with Pharmaceutical Profiles gives Quotient Bioresearch “a unique opportunity to provide its clients with a truly integrated metabolic sciences service offering, spanning radio synthesis through to human AME [absorbtion, metabolism, excretion] studies”, it commented.
The merged operation “will also continue to build on Pharmaceutical Profiles’ unique position in accelerated clinical formulation development”, Quotient added. “These integrated approaches allow our clients to realise major efficiencies prior to moving into late-phase drug development, whilst making Quotient Bioresearch a world leader in 14C enabled drug development (i.e., use of radiolabelled compounds in drug development).”
The enlarged Quotient will have revenues approaching £40 million (US$61.6 million) and more than 450 employees in the UK. Last summer the company secured investment of around £35 million from private equity firm TA Associates, saying the new funds would be used to support an expansion strategy based on acquisitions and organic growth.
Quotient Bioscience has grown rapidly over the last two years and further acquisitions “are anticipated with a view to offering clients a broader, unified range of services”, it noted. Established in early 2007 as Quotient BioResearch Ltd to provide analytical and safety evaluation services and products to the bioscience and sports sectors, the company announced its third acquisition in the drug development services market – and its fourth acquisition overall – last February.
This was BioDynamics Research, a spin-out from Cardiff University in Wales that provided metabolism, bioanalytical and radiochemistry services to the pharmaceutical and biotechnology industries worldwide.
Previously Quotient had snapped up HFL, the forensic laboratory business of the UK’s Horseracing Betting Levy Board but also a leading provider of bioanalytical and biomarker testing services to the pharmaceutical and biotechnology sectors; and GR Micro, which offers microbiology and molecular biology services to the same sectors worldwide.
In May, Quotient’s drug development services businesses were consolidated under the name Quotient Bioresearch while the parent company was renamed Quotient Bioscience Group Limited.
