Gentronix Ltd set to double in size following Northern VCT investment
Gentronix Ltd, a contract research business based at Alderley Park, is planning to double in size following a £750,000 investment from the Northern Venture Capital Trust Funds (VCTs), which are managed by Mercia.
Gentronix Ltd provides specialist toxicology testing services for pharmaceuticals, agrochemicals, cosmetics, personal care and consumer products. The company provides solutions for genetic toxicology and skin sensitisation to its clients, including major pharamceutical and chemical companies, supporting them from early stage discovery through to regulatory submission and approval. Services are delivered by an expert scientific team, with a keen focus on minimal use of test substances and responsive timeframes.
Gentronix, which currently employs 30 staff at its GLP laboratories grew turnover by 15 per cent last year and is on course to achieve a 20 per cent rise in the current year. The investment will allow Gentronix to expand its portfolio of OECD guideline toxicology testing services and increase its capacity within core service offerings. These initiatives will see the business increase its laboratory footprint and create around 30 new jobs for scientists within the next two years.
Matt Tate, who took over as CEO in 2017, said the company now planned to increase its capacity for genetic and skin toxicology services, and add in new bioanalytical, gene mutation, 3D in vitro skin models and phototoxicity services. Matt added: “This further investment from the Northern VCTs gives us the financial platform to accelerate the growth we have achieved in the past 12 months. It will enable us to increase our specialist toxicology capabilities, target gaps in the market and strengthen our offering across our key sectors. I look forward to leading the team in this exciting period of growth.”
Carmine Circelli of Mercia said: “Gentronix has built a reputation within the industry for its scientific expertise and its ability to deliver reliable data to clients within the agreed timeframe. Under the direction of Matt and his team, the business has gone from strength to strength, secured some major new contract wins and achieved its best ever financial results. This funding will allow it to continue to expand its toxicology service in line with market demand and create new skilled jobs in the North West.”
For more information, please contact:
Matt Tate, Managing Director, Gentronix Ltd, Alderley Park, +44 (0) 1625 238753, Matthew.tate@gentronix.co.uk
