Antibody Analytics wins backing from NorthEdge and plans growth
NorthEdge has invested in UK-based Antibody Analytics, a contract research organization (CRO).
The private equity firm announced the move this week, explaining it was designed to support CEO Andy Upsall and his team’s development of a growth plan for the CRO.
NorthEdge predicted the growth plan would include “significant job creation and expansion of the CRO’s site in Motherwell, Scotland that will provide additional capacity and enable increased research capabilities.
Upsall welcomed the invested and cited increasing biopharmaceutical industry demand for specialist and highly technical services as a focus for Antibody Analytics going forward.
“Now more than ever, the developers of innovative biotherapeutics require specialist solutions, as they forge their way through the increasingly difficult and expensive drug development pathway.
“NorthEdge’s cultural fit, hands-on support and experience of building global businesses from a regional base means they are the ideal partner for Antibody Analytics as we deliver the next stage of our growth.”
The investment, which was conducted by NorthEdge’s team in Manchester, will see Liam May - the private equity firm’s director - join the CRO’s board.
May cited Antibody Analytics’ track record of developing strategically important services as a motivation and framed the investment as part of NorthEdge’s strategy of backing innovation.
“The Healthcare sector continues to be a significant focus area for us at NorthEdge, with Antibody Analytics representing our latest investment in this space.
He added, “It is another example of NorthEdge investing in a well-respected and cutting-edge global business based in the UK regions.”
The investment is NorthEdge’s sixth deal in the healthcare sector and fourth in the pharma services space. Other holdings include its stake in Helios, a Cheshire-based medical communications agency and its investment in specialist recruitment agency, Meet.
Financial terms of the investment were not disclosed.
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