Quotient Sciences and global investment firm Permira today announced that a company backed by the Permira Funds has signed a definitive agreement to acquire a majority stake in Quotient Sciences from companies controlled by GHO Capital and other investors for an undisclosed sum.
The investment provides substantial new funding to fuel the next stage of Quotient Sciences' growth. Chief Executive Officer Mark Egerton and the management team will continue to lead Quotient Sciences.
Quotient Sciences has brought innovation to the pharmaceutical services sector through its unique Translational Pharmaceutics® platform, which is proven to accelerate development timelines, reduce development costs, and drive improvement in R&D productivity. The business has experienced substantial growth over recent years and generates annual revenues in excess of £100 million.
“We are delighted to partner with Permira to drive Quotient Sciences through our continued evolution,” said Mark Egerton, Ph.D., Chief Executive Officer of Quotient Sciences. “The investment by the Permira Funds will support Quotient’s continued growth plans, which include broadening our core services portfolio and expanding our formulation development and manufacturing capabilities to meet the demands of our growing customer base.”
Marcel Lacaze, Principal in the Global Healthcare Group of Permira based in London, added, “Quotient Sciences and its disruptive approach to pharmaceutical drug development have created a truly unique business model. With GHO’s support, the business has developed strongly in recent years and we look forward to partnering with Mark and his team in continuing to grow this exciting company.”
The Partners at GHO Capital have enjoyed working with the Quotient Sciences team since 2015. “During this period, the business has achieved a global footprint, replicated its unique Translational Pharmaceutics in the U.S., and validated itself as a commercial drug product manufacturer. Having more than doubled its capacity and made large investments in operational infrastructure, Quotient Sciences is well placed to continue its strong performance, and we look forward to seeing their continued success in partnership with Permira.”