Two Nottingham-based life science companies have been listed in a Financial Times ‘fastest growing’ study published today (April 7).
The FT 1000: The complete list of Europe’s fastest-growing companies, published by the newspaper, lists the 1,000 companies in Europe which achieved the highest percentage growth in revenues between 2012 and 2015.
BioCity Nottingham and Sygnature Discovery – the latter also based at BioCity’s site in Pennyfoot Street, Nottingham – are both featured in the FT list. BioCity – which works to provide support, advice and space for life science businesses – is placed in 873rd position and Sygnature Discovery – which provides drug discovery resources, programmes and expertise nationally – at 906th.
Life sciencesis one of the D2N2 Local Enterprise Partnership’s eight key commercial sectors. It has invested £6.5million in a £30million, five-storey extension to the Biocity site – called the BioCity Discovery building (pictured) – which will shortly be open to tenants; including Sygnature Discovery, which will be taking up a large proportion of the new building as part of an expansion plan, leaving new life sciences start-ups to move into its original location. Nottingham City Council, BioCity and Sygnature Discovery also invested in the new facility.
It is estimated the new BioCity facility will safeguard around 250 jobs and create 700 more, over a 30 year period.
D2N2 is the LEP for Nottingham, Nottinghamshire, Derby and Derbyshire. The private sector-led partnership of business, local authorities, skills and training providers, and community and voluntary services works to grow the economy and job numbers in its area. One way it does this is through promoting key commercial sectors, ones in which the area already has a competitive advantage or has the capacity to gain one, including life sciences.
It is estimated that this new facility will safeguard around 250 jobs and create 700 more over a 30 year period. Sygnature Discovery, which is taking up 30,000 sq ft. of the new building, was featured alongside BioCity Nottingham as one of Europe’s 1,000 fastest growing companies.
Speaking on the completion of the BioCity Nottingham Discovery building, David Ralph, Chief Executive for the D2N2 Local Enterprise Partnership, said: “Nottingham has seen tremendous growth in the life sciences sector over the last decade and it now needs room to develop further.
“D2N2 is committed to aiding growth in its eight key economic sectors, including life sciences, which is why we invested £6.5million in this state of the art project, put forward by our local authority partner Nottingham City Council.”
Around 235 UK located firms appear on the FT list.
To be included in the list, a company had to meet the following criteria:
- Revenue of at least €100,000 generated in 2012 (or currency value equivalent as of December 2012)
- Revenue of at least €1.5 million generated in 2015 (or currency value equivalent as of December 2015)
- The company is independent
- The revenue growth between 2012 and 2015 was mainly organic
- If a company is listed on a stock exchange, its share price has not fallen 25% or more since 2015
To see a full list of Europe’s fastest growing businesses and learn how the growth figures were calculated, visit: https://ig.ft.com/ft-1000/
For more information on the BioCity Nottingham Discovery Building, visit: www.biocity.co.uk/biocity/nottingham/discovery
For more information on D2N2’s 8 key sectors, visit: www.d2n2lep.org/key-sectors
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