BioAnaLab Accounts are Eight-fold

26th April 2005

BioAnaLab Limited, a specialist contract analytical laboratory, has recently published its annual accounts for 2003-2004.

BioAnaLab accounts show an overall increase in sales from £65,038 to £521,267. A large part was repeat work from existing clients, but analytical projects were started with new clients ranging from small biotech to major pharmaceutical companies. There was steady growth each quarter, and an overall net profit during the second half of the year.

Understanding the BioAnaLab Accounts

A key factor behind this strong growth was the appointment of Dr Chris Cox as Director of Clinical Services in July 2003. Under his leadership, the company built a comprehensive quality system to meet regulatory standards and the exacting needs of clients.

BioAnaLab was founded in 2002 with the support of Oxford University Innovation Ltd, (the university technology transfer company) as a spin-out from Oxford University with funds from a consortium of private investors led by Oxford Technology 3 Venture Capital Trust. It is a prime example of a successful start-up company funded as a result of the VCT and EIS schemes. With an order book in excess of £1 million, the company expects to grow steadily and is currently recruiting new staff and raising some additional capital funds for enlargement of its facilities.

Dr Matthew Frohn of Oxford Technology 3 VCT said “Very few technology companies these days actually meet their business plan projections within their predicted time scales. BioAnaLab has met both its revenue targets and delivered consistently high quality analysis to its pharmaceutical clients.”

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