£10m funding for clinical trials specialist to boost UK and European expansion

Prof John Lyon

A Preston-based clinical trials group has been awarded £10m of investment from BGF and Gresham House Ventures, the latter investing on behalf of the Baronsmead VCTs.

The funding will enable Panthera Biosciences to further grow its network of dedicated clinical trial sites across the UK and Western Europe.

Panthera launched in 2019, with an initial investment by Gresham House Ventures and Catapult in 2020, and how operates nine sites in the UK, including Manchester and London, with a rapidly expanding order book.

The business, which recruits patients and runs clinical trials on behalf of Contract Research Organisations (CRO) and pharma, has further developed the SMO – Site Management Organisation – model through technology and trials in specialist areas such as oncology, NASH, neurology and vaccines as well as those treated in general practice.

Oncology trials are undertaken in partnership with the Rutherford Cancer Centres across the UK.

Panthera was founded by medical director, Dr Ian Smith, who also founded Synexus, the largest SMO in the world, and chairman and chief financial officer, Prof John Lyon, a serial entrepreneur and previously a global vice president of Covance.

Together, they have recruited a top management team with global experience, which has established relationships with leading CROs and pharma companies.

Prof John Lyon said: ”We are very pleased to have the backing of such reputable and respected investment houses as BGF and Gresham House Ventures, which will supercharge our expansion.

“In the last two and a half years our management team has built an exemplar SMO model which has been welcomed by our clients in the major pharmaceutical companies and CROs. In the next 12 months we aim to become the preferred provider for our clients across Europe.”

Matt Widdall and Rhys Davenport led the deal for BGF – the UK and Ireland’s most active growth capital investor. BGF investor Matt Widdall said: “We were attracted to Panthera’s high quality, experienced team who have rapidly developed an exciting proposition, with the potential to become the leading SMO in Western Europe.

“Today’s investment will unlock significant growth potential and we look forward to working with the business to realise its ambitions.”

He added: “BGF has become one of the most prolific investors in healthcare as the sector has flourished. Our experience means we are ideally placed to support Panthera on the further development of its technology platform and international roll-out strategy.”

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