Quotient Clinical, a provider of outsourced, early stage drug development services to the pharmaceutical industry, has been acquired from the Quotient Bioresearch Group by Bridgepoint Development Capital. Financial details were undisclosed.
Quotient Clinical (“the company”), a provider of outsourced, early stage drug development services to the pharmaceutical industry, has been acquired from the Quotient Bioresearch Group by Bridgepoint Development Capital (“BDC”), for an undisclosed sum. Quotient Clinical has developed a platform which offers an integrated approach to formulation development, “real-time” drug product manufacturing and clinical testing. Use of this platform has been proven to significantly reduce the time and cost of the early stage drug development process.
The company serves a global customer base comprising a range of top tier pharmaceutical companies through to small-medium sized biotech organisations. More than three quarters of its revenues are derived from customers based in the USA or mainland Europe. The company employs over 200 people and has two operational facilities in the UK. The principal site in Nottingham has a certified 85 bed clinical pharmacology unit with an integrated drug manufacturing facility employing formulation chemists and clinical staff, including nurses and doctors. The second facility in Edinburgh houses the company’s Biometrics function responsible for the analysis and reporting of clinical trial data.
The outsourced drug development market is currently valued at $30 billion which is forecast to grow at up to 6% p.a. and is characterised by a focus on speed to market, to maximise value from a drug’s period under patent. The addressable market for Quotient’s services derives from its so called ‘Translational Pharmaceutics’ platform and is conservatively estimated to be worth over $400 million p.a.
Quotient Clinical Chief Executive Officer, Mark Egerton, said: “We are very excited at the pace with which our platform is being adopted in the marketplace. Working with Bridgepoint Development Capital will now provide the support to catalyse the next phase of our growth and evolution. BDC’s experience in helping portfolio companies to scale will be invaluable as we endeavour to grow our business and maintain the high levels of customer satisfaction that we currently enjoy”.
Alan Payne, partner at Bridgepoint Development Capital, said: “Quotient Clinical serves a substantial and growing market and there is significant opportunity to increase market penetration thanks to its combination of unique service offering, strong regulatory governance and a talented management team.”
Debt finance for the transaction was provided by HSBC. Advisers for BDC included: Ernst & Young (M&A, Debt Advisory and Financial), Travers Smith (legal) and LEK (market).
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Notes to Editors
About Quotient Clinical
Quotient Clinical offers a unique service – based on its Translational Pharmaceutics™ platform – that integrates formulation development, real time drug product manufacturing and clinical testing, significantly reducing the time and cost of bringing a drug to market.
For more than 20 years, Quotient Clinical has brought innovation to drug product development programs for pharmaceutical and biotechnology customers worldwide. The Company is based in purpose built, fully integrated facilities in Nottingham, UK, where formulation development, real-time manufacturing and early clinical trials are co-located on the same site. It employs over 200 staff, offering a full range of support services, from study set-up right through to data analysis and reporting.
About Bridgepoint Development Capital
Bridgepoint Development Capital (‘BDC’) provides funding to businesses headquartered in France, the Nordic region and the UK, typically buyouts valued up to €150 million. BDC has a team of 17 investment professionals wholly dedicated to its investment activity and operates from offices in London, Paris and Stockholm.
BDC is part of Bridgepoint, the international private equity group , which invests in businesses valued between €20 million and €1 billion across Europe, from a network of offices in Frankfurt, Istanbul, London, Luxembourg, Madrid, Milan, Paris, Shanghai, Stockholm and Warsaw. (www.bridgepoint.eu)