Our underlying positive growth trend has continued, and aligns well with our strategic focus on developing the business in the North American market alongside our more established client base in Europe. Our efforts to proactively build relationships with biotech companies in the U.S. has been a resounding success.
In February this year we opened an office in, Boston, MA, to support clients on both the East and West coast of America, as well as providing a base to reach out to new clients including those running parallel drug development activities in both Europe and North America.
Our global strategy has seen us support more clients than ever by manufacturing their novel injectable pharmaceutical products so they can successfully hit their clinical trial milestones. As a result, and thanks to a monumental effort from our highly professional team, Symbiosis has again shown annual growth of over 30%.
The Symbiosis team has also grown by 30% this year, ensuring we have been able to service that increasing demand while bringing our clients a service level of the highest possible standards. Growth always brings challenges, and opportunities, and we look forward to raising that bar further in 2018.
I foresee our growth trend continuing into 2018, and beyond, as the outsourced pharmaceutical development services market equally continues to grow: and for several reasons, including the emergence of revolutionary personalised medicines and clinically successful gene therapy products, which require CMOs like Symbiosis with specialist biological drug handling strength and manufacturing expertise.
GMP filling of viral vector products is a capability that Symbiosis has developed and refined over the last few years and Symbiosis has succeeded in grasping this opportunity because of our inherent willingness – and operational capability – to be flexible in supporting the development of this kind of revolutionary medicine. We are proud to be right at the heart of what is a historic time for modern medicine.
Our expected 2018 growth will also be driven by the rapidly growing demand for not only our broad fill/finish capabilities but also our considerable niche expertise, in GMP vector sterile processing for example. This is a field which has recently seen us play an important role in the process development and imminent commercialisation of CAR-T cell cancer therapies in the US and Europe.
In addition to the physical expansion of the Symbiosis facilities, directly facilitated by the successful award of a seven-figure collaborative grant from UK Government funded Innovate UK, we are expecting our regulatory compliance development strategy to take us into new geographical and commercial markets in 2018.
I hope that your successes in 2017 have mirrored ours, and on behalf of everyone at Symbiosis I’d like to thank you for your business, your support and wish you all a Happy Christmas, Happy Holidays and best wishes for a highly successful and prosperous New Year!
Colin MacKay, CEO, Symbiosis