3i today announces that it is supporting the MBO of Nottingham-based Pharmaceutical Profiles, a provider of specialised Phase 1 clinical trials, in a £10m deal initiated by Clearwater International.
Pharmaceutical Profiles was spun out of Nottingham University by Dr Ian Wilding and Professor Bob Davis in 1991 and provides unique clinical trial services to pharmaceutical and biotech companies worldwide.The company employs 100 people at its facilities, based on the high tech business park in Ruddington, 5 miles south of Nottingham.
Pharmaceutical Profiles has developed a highly valued suite of clinical services that help pharmaceutical and biotech companies to improve their decision making in the drug development process. These services allow drug companies to save money in the expensive process of developing new medicines and have helped Pharmaceutical Profiles to receive the prestigious Frost and Sullivan award for excellence in technology during 2004. The company’s sales have trebled in the last five years
3i, who originally invested £500,000 in Pharmaceutical Profiles in 1999 to help the company develop a proprietary drug delivery device, recently introduced Edwin Moses as chairman. 3i has worked with Edwin in the past in a number of different healthcare companies. He will be joined on the board by Angus Bell, who has spent 30 years in leadership positions with Glaxo and the global contract research organisation, Quintiles. The incumbent team of Nigel Souster, Finance Director, and Simon Lee, Managing Director complete this high quality board