Drug discovery for Candover

Candover has led the GBP57.5 million buyout of Inveresk Research Group, a contract research organisation which provides clinical and preclinical services to a worldwide client base.

The company has been in existence since 1946 when the UK government established the Institute of Seaweed Research at Inveresk Gate, near Edinburgh. Today, Inveresk Research operates on a global basis from offices in the UK, the US, and Japan, and employs just over 600 people. The group’s focus is on clinical and scientific excellence, and it boasts a number of long-term big pharma’ client relationships.

The drug discovery market is set for significant growth as technological advances result in a dramatic increase in new drug leads. Cost effectively developing new drug candidates via outsourcing preclinical and clinical work is a priority for pharmaceutical and biotech companies, and Inveresk is, in theory, well positioned to benefit from this growth. The management team intends to build on its position by growing the business, both organically and through acquisition.