XenoGesis has reported a 78% increase in its exports from last year, with half of its revenue now coming from overseas.
Founded in 2011, XenoGesis now has clients across six continents and has experienced consistent growth since day one, with export revenue increasing year on year. The increase in international clients is the direct result of the business’ growth strategy to develop overseas markets.
Based at BioCity Nottingham, XenoGesis specialises in preclinical drug metabolism and pharmacokinetics (DMPK), quantitative bioanalysis, in vitro pharmacology, DMPK due diligence and modelling and simulation, and has worked directly on the predictions of human PK and dose for seven compounds that have entered clinic. Founded in 2011 by Dr Richard Weaver, the company has grown from three to over 30 members of staff in seven years.
In the financial year ending March 2019, 50% (£1.25 million) of all its revenue came from overseas clients, with its largest markets being in Europe.
XenoGesis’ international client base also includes the USA, South Africa and New Zealand.
Commenting on the export growth, Richard Weaver, Founder and CEO of XenoGesis, said: “The international growth we have seen highlights the attractive proposition the UK has to offer, whether it is a lack of expertise locally in overseas markets or the wealth of scientific knowledge and expertise in the UK, we are definitely seeing a marked increase in international businesses turning to us for advice and support.
“We have seen significant growth in the USA market and also in Europe as a whole, and hope to build on our client base and continue working with businesses across these markets, as well as in other thriving target areas such as the Nordic countries.”
He added: “We expect the growth trend to continue with more and more clients coming to us from overseas for our high quality, consultative and flexible approach.”