XenoGesis has received funding from Invest to Grow to support the purchase of a Thermo Scientific Q Exactive Focus LC-MS and diode array, and a Thermo Scientific TSQ Altis LC-MS/MS with UPLC.
This new equipment provides XenoGesis with 67% more analytical capacity, which will support our continued growth, as well as allowing us to explore large molecule bioanalysis.
The grant and loan support received from the University of Derby’s Invest to Grow Programme has helped fast-track the purchase of the two LC-MS instruments which were delivered and installed in 2019.
According to the Market Research Future® report, the global bioanalytical market is set to grow at an average 13 percent compound annual growth rate (CAGR) up to 2023. This is split into 11.94 percent for small molecules and 14.76 percent for large molecules. The projected global market for the small and large molecules in 2023 is therefore $1,167 million and $700 million respectively, growing from $593 million and $307 million in 2017.
Future growth into large molecule bioanalysis will be serviced in part by the Thermo Scientific Altis.
XenoGesis Founder and CEO, Richard Weaver, comments:
“Life Science SMEs often have difficulties in obtaining capital or loans, so we were delighted when Invest to Grow offered their support to enable us to invest in two new specialist instruments.
“Bioanalysis is a significant part of our business and has grown year on year. The new equipment enables us to expand our capacity as well as offering a wider range of specialist services. Having the right facilities is key to delivering the best possible service to our clients. Unlike many CROs, XenoGesis specialises in DMPK and bioanalysis – it is not a ‘bolt on’ to other services that we offer – and this sets us apart from our UK and global competitors. We have direct evidence of a significant number of clients who have moved from other providers to XenoGesis over the last four years specifically for the DMPK and bioanalysis expertise that we offer.
“We have grown our company and increased our market share substantially year on year, with over 50% of our revenue coming from overseas. The impact of the purchase of this equipment is hugely positive and will enable us to work with more clients, offering a wider range of specialist services, as well as fuelling new job creation.”