Manchester-headquartered Epistem has completed a management buy-out from genedrive plc following investment from Foresight Group.
Foresight’s backing, which includes growth capital, will support pre-clinical and clinical research services provider Epistem’s plans to expand.
The company currently specialises in areas including oncology, gastro-intestinal (GI) diseases and toxicity and inflammatory diseases, and has clients including global pharmaceutical businesses, US Biodefence programmes and niche biotechnology companies.
With Foresight’s investment it aims to grow its service offering whilst also strengthening its sales and marketing activities across its international customer base.
The buy-out is led by Dr Catherine Booth, one of the original founders of Epistem and an expert in GI biology.
Dr Booth will be supported by an executive team including operations director Julie Tudor, a fellow founding member of Epistem; and a new sales director and finance director.
Foresight has introduced experienced industry non-executive chairman, Dr Nick Ash, who has previously been CEO of Source BioScience plc.
Dr Booth, CEO of Epistem, says: “We are delighted to partner with Foresight. Epistem has huge potential for growth and development.
“We have a clear list of initiatives for enhancing and expanding the business and are looking forward to delivering a more comprehensive suite of services to address our customers’ scientific needs.
“Foresight, complemented by Nick Ash, will provide us with significant financial and strategic support.”
Matthew Pomroy, investment manager at Foresight, adds: “Epistem is a prime example of the type of company Foresight likes to support, a differentiated and customer-focused business with market leading expertise.
“Cath’s dedication and long-term involvement, combined with the new expertise from incoming chairman Dr Nick Ash, gives us confidence that we will see the business go from strength-to-strength. We look forward to working with the team in the coming years.”