Private equity firm Keensight Capital has invested in CatSci, a Cardiff, Wales-based contract services firm that has its origins in Astrazeneca’s former catalyst business.
The investment – financial terms of which were not disclosed - was prompted by CatSci’s positioning in the small molecule drug sector according to Keensight partner, James Mitchell.
“We believe that CatSci has exceptionally strong potential in a large and continuously developing market that is expected to reach $75bn by 2030. Their unique positioning and strong expertise in small molecule R&D, as well as their renowned high-quality scientific services and workforce, make them a critical player in the CRO ecosystem.”
CatSci – which separated from AstraZeneca in 2010 - is focused on the development of economically and environmentally sustainable production processes. The company has six operational laboratories across two UK sites and currently employs nearly 100 people.
The investment will support continued growth of CatSci’s core business via capability and site expansion, according to Keensight, which also said the plan is to develop GMP capabilities and the expansion of its offering in oligonucleotide services.
CatSci CEO Ross Burn cited Keensight’s experience backing companies in the services sector – both the research space and the production space - as key.
“Keensight’s team has extensive experience in the CRO and CDMO space across both small and large molecules, thus, making it the ideal team to partner with to accelerate our growth.”
This was echoed by COO Simon Tyler, who said Keensight’s “impressive international network and expertise in delivering operational support to fast-growing companies, the support of the Keensight team will be key for the success of our expansion strategy going forward.”
News of the investment comes a few months after Keensight acquired a major stake in Dutch CRO Symeres, a combined provider of drug discovery and small molecule drug manufacturing services.
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