UK-based contract research organisation Gentronix is a leader in the field of genetic toxicology. Now, the company just announced that it has raised £700K in a funding round led by existing investor Mercia for its continued growth.
Growth plans ahead
The funding round follows the recent acquisition of the Big Blue transgenic mutation assay from Merck KGaA by Gentronix. The investment will be used to fund the onboarding and delivery of the new service and expand the company’s genetic, skin and ocular toxicology services.
Matt Tate, Gentronix Managing Director, said: “This further investment provides a fantastic platform for Gentronix to commercialise the Big Blue® technology, building on our strong reputation for high-quality contract research and establishing our business as a world-leading CRO in the delivery of mutagenicity safety assessments.”
Mercia was investing via its Northern Venture Capital Trusts (VCTs), which first backed Gentronix in 2007. Alex Gwyther of Mercia said: “Gentronix’s work is crucial in helping to develop new pharmaceuticals, agrochemicals and consumer products that are safe for people and the environment. We are confident Matt and the team will go from strength to strength as they continue to serve their global clients with both their core offerings and the newly acquired Big Blue® assay. We are excited to support the company in the next stage of its growth story.”
Need for safer chemicals and medicines
Gentronix provides companies developing new chemical or pharmaceutical products with toxicology tests required by regulators to show that they are safe to use.
The Big Blue service is incredibly important for the continued development of safer chemicals and medicine. Gentronix has strengthened its collaborations with clients across the pharmaceutical and chemical industries by providing this. The Big Blue assay is one of only three tests in the world used for the final assessment of potential mutagenicity – the risk that a substance could cause genetic mutations that could be damaging to human health and the environment.
Gentronix has increased its revenues by 15 percent year-on-year. The acquisition helps it develop new service lines and increase capacity in its core offerings. Gentronix eyes to create 20 new jobs within the next two years.
Based at Alderley Park in Cheshire, it currently employs over 40 staff including a team of expert toxicologists and serves clients including top five pharmaceutical, chemical and agrochemical organisations.
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