Xceleron Announces Expansion of US Operation
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Xceleron has announced a multimillion dollar investment to create its pharmaceutical testing facilities in the US
The investment follows the establishment of its North American base in 2005 since when the company has experienced very significant demand for its services with substantial growth forecast from what is already estimated to be a $1bn market.
With up to 50% of global demand for drug and metabolite analysis coming from the US Xceleron will invest up to $7.5m on the purchase of a new accelerator mass spectrometer (AMS) to carry out analysis on pharmaceutical drug candidates, new laboratories in Maryland and additional personnel.
The facilities will come on stream in late 2007, considerably increasing the company’s testing capacity.
By 2011 employee numbers are planned to rise to at least 150 and North American revenues to exceed $20m.
Professor Colin Garner, CEO of Xceleron commented, "The purchase of a second AMS instrument and the creation of a new US AMS centre is a further step in ensuring that Xceleron remains the world’s leading provider of AMS services to pharmaceutical and biotechnology companies."
"The publication of the Exploratory IND by the FDA1 in January this year has significantly increased Xceleron’s business from the U.S., the world’s largest pharmaceutical market and we have been quick to respond to this challenge."
