Xceleron, Inc., a York, UK- and Germantown, MD-based provider of human data and insights to drug developers, received an undisclosed amount of funding from its current investors, Albion Ventures and Frog Capital, and from new investor Solon Ventures, a specialist in the life sciences sector.
Xceleron, which realized significant revenue growth in 2009, and now partners with most of the top 20 pharmaceutical companies, will use the new funds to accelerate future growth and to expand it capacity in line with customer demand.
The company supports its clients in making early and well-informed portfolio decisions by providing reliable information about a drug candidate in a number of clinical settings and also supports preclinical evaluation of proteins and other high molecular weight drugs.
Commenting on the investment, Angus Whiteley, Managing Director, Solon Ventures, was reported to say: “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”
FinSMEs
19/01/2010