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XCELERON
19th January 2010
XCELERON ACHIEVES SIGNIFICANT GROWTH IN 2009 - RAISES FUNDS AND EXPANDS CORE CAPABILITIES TO FUEL FURTHER GROWTH
Company provides human data early in the drug development process to inform decision-making for pharmaceutical and biotechnology drug development --
Germantown, MD., January 19, 2010 – Xceleron, a leader in providing drug developers with early insights from human data, announced today that it is expanding its bioanalytical capabilities following a year of strong growth.
The company realized significant revenue growth in 2009, and now partners with most of the top 20 pharmaceutical companies to help address the fundamental challenges facing the industry – improving the efficiency and cost-effectiveness of drug development. To accelerate future growth, the company recently received additional funding from its current investors -- Albion Ventures and Frog Capital -- and from new investor Solon Ventures, a specialist in the life sciences sector.
“Xceleron has shown that it is well-positioned to help address the time, resource, and productivity challenges associated with drug development,” said Ed Lascelles, Partner, Albion Ventures. Angus Whiteley, Managing Director, Solon Ventures added, “The extent to which Xceleron can provide its partners with important data through all phases of clinical studies earlier than was otherwise possible is only now being recognized. We look forward to supporting the company and its partners through this exciting next phase of growth.”
Xceleron helps clients make early and well-informed portfolio decisions by providing reliable information about a drug candidate in a number of clinical settings. These include human PK in Phase 0; absolute bioavailability and metabolism in Phase 1; and problem-solving ADME in Phase 2/3. The company also supports preclinical evaluation of proteins and other high molecular weight drugs. Xceleron reduces its partners’ reliance on traditional linear testing methods. The quality data and insights the company provides help to inform critical portfolio choices from candidate selection to drug formulation.
“Our growth reflects the significant challenges facing our customers, and our ability to deliver very cost-effective insight into a molecule’s characteristics starting in the preclinical stage and extending throughout clinical development,” said Michael Butler, PhD, CEO, Xceleron. “The new investment will allow us to expand our capacity in line with customer demand.”
About Xceleron
Founded in 1997 in York, UK, Xceleron provides unique and robust human data and insights to inform the full range of decisions that determine drug development success, from early preclinical testing through late-stage development. Xceleron leverages its expertise in microtracing, microdosing, and AMS to provide unprecedented insights into how drug candidates will perform in humans. The company combines technical expertise with vast drug development experience and the industry’s most rigorous analytical quality processes to provide its partners with reliable information for critical decision-making. There are currently seven drugs on the market that have used Xceleron AMS data in filing, and others in late stages of development. In 2008, the company opened its US facility in Maryland. For company information, visit Xceleron at www.xceleron.com
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16th December 2008
Xceleron Names Michael Butler as President & CEO
Butler Brings Strong Leadership, Vision and Experience to Xceleron
Gaithersburg, MD & York, UK – Xceleron, the global leader in predictive clinical research to enable smarter, safer drug development, announced today Michael Butler, Ph.D., has been named President and CEO after an extensive global candidate search.
Dr. Butler brings to Xceleron a balance of sales, operations and management know-how, including significant experience in expanding science-driven businesses. “We are pleased to formally introduce Dr. Michael Butler and announce this key appointment. Not only will this move strengthen Xceleron’s business operations, but the benefits derived across the organization from his leadership will be significant as the company drives revenue growth and expands its global footprint,” said Dr. Ian Buckley-Golder, Chairman of the Board, Xceleron. “Michael’s ability to deliver results, keen insight and deep understanding of science-driven businesses made him the ideal choice to lead Xceleron into the future.”
Prior to joining Xceleron, Dr. Butler served as President and Chief Scientific Officer at Aptuit, a global pharmaceutical services company with more than 1,000 employees. Dr. Butler led Aptuit’s growth phase working to penetrate key North American, European and Asian markets, increase sales revenues from $75 million to over $200 million, as well as expand operations from three locations to eight sites globally. Before Aptuit, Dr. Butler was Group Vice President at MDS Pharma Services responsible for managing the company’s clinical and chemistry operational units. “This is an exciting time to join Xceleron. Our customers are dealing with the most intractable challenges the industry has ever faced including poor compound solubility, biologics development, high potency drugs, and the need for earlier human data. With more than 200 molecules investigated to date, Xceleron has consistently demonstrated its ability to deliver the critical insights necessary to overcome each of these problems,” said Dr. Butler. “Leveraging 11 years of experience, Xceleron offers the most robust analytical platforms in the industry and the technical know-how to solve our clients’ drug development challenges. With the US facility online, we are ideally situated to bring this unique expertise to the largest market in the world.”
Professor Colin Garner, founder of Xceleron is retiring from the President/CEO position and will now serve as the Senior Scientific Advisor to Xceleron and a non-Executive Director. “Over the past 11 years, Xceleron has created a new market to enable pharma and biotech companies to take drugs into humans earlier than ever before and at much lower cost ” said Professor Garner. “I believe Michael is well suited to grow the Company as we continue to provide enhanced value to our customers and I look forward to supporting him in growing the business.”
Dr. Butler received a BS with honors from Heriot Watt University and earned his Ph.D. from the University of Liverpool.
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April 2005
CLOSE VENTURE MANAGEMENT AND FOURSOME INVEST £2.0 MILLION IN LEADING UK PHARMACEUTICAL SERVICES COMPANY
Close Venture Management is pleased to announce it has made a £1.5 million investment in Xceleron Limited (“Xceleron”) a contract research company providing specialist services to the pharmaceutical industry. Close was joined in the funding round by Foursome Investments who contributed a further £0.5 million, bringing the total invested to £2.0 million. The new funding will be used to provide working capital and to finance a significant growth phase in Xceleron’s development.
Xceleron, a spin out from the University of York, is the world’s foremost company using the nanotechnology of accelerator mass spectrometry (AMS) in drug development. The technologies developed by Xceleron are aimed at speeding up drug development by reducing attrition rates, especially through its innovative microdosing procedures recently endorsed by the FDA and the EMEA.
Established in 1997, Xceleron has now proven the efficacy of its technologies and developed its markets. Additionally, regulators have recently endorsed Xceleron’s approach. In order to capitalise on the significant commercial opportunities available, the investment will be used to upgrade Xceleron’s AMS machine, increase the efficiency of its laboratory processes and fund the expansion of its sales activities.
Ed Lascelles of Close Venture Management said, “There is significant pressure within the pharmaceutical industry to improve and accelerate drug development, as evidenced by the FDA’s Critical Path white paper of last year. Xceleron’s novel approach to drug development is one way to do just this. We are delighted to have the opportunity to support a high quality management team in a niche industry with such potential.”
Colin Garner, CEO of Xceleron, commented, “Not only will the funding provided by Close enable Xceleron to expand its operations significantly, but their expertise in assisting companies to manage critical phases in their development will also prove invaluable. I am very excited about the future for Xceleron and, working together with Close and Foursome, we aim to reinforce our position as the leading provider of AMS services to the pharmaceutical and biotechnology industries worldwide.”
Graham Gilbert, financial director of the University of York, said, “This funding is an important step for the company and also marks a key moment in the University’s drive to use its research power to support innovation and economic growth. We are delighted to have Close and Foursome alongside us in this venture and hope to see more of such collaborations in the future.”
