Fusion IP (AIM: FIP), the university commercialisation company which turns university research into business, is pleased to note Simcyp Limited’s announcement yesterday that it has won a Queen’s Award for Enterprise as below. Simcyp is a profitable Sheffield based company providing predictive pharmacokinetic tools, workshops and consultancy services to the global pharmaceutical industry and was listed amongst the UK’s top 15 fastest growing companies earlier this year. Fusion’s undiluted shareholding in Simcyp is 20.8%.
Simcyp Limited wins Queen’s Award for Innovation
Sheffield, UK. 21st April 2010. Simcyp Limited, experts in simulating how the body deals with new drugs in development, today announces that it has won a Queen’s Award for Enterprise. The award has been made in the Innovation category and reflects Simcyp’s continuous development of modelling and simulation software for evaluating drugs in the safety of a computer.
Simcyp’s technology enables pharmaceutical scientists to analyse how a drug is absorbed, distributed, metabolised and excreted in virtual populations of patients, prior to clinical trials in humans. By including extensive information on demographics, genetics, environmental factors and disease state, complex ‘real-life’ scenarios can be easily investigated including the likelihood and effects of drug-drug interactions.
The Simcyp Simulator helps pharmaceutical companies to take full advantage of routinely generated data in order to prioritise promising drug candidates earlier in development. Simulations can also optimise the design of human trials; minimising unnecessary drug exposure to human volunteers and animals. This has significant cost and time-saving benefits in the development of new medicinal products.
The Queen's Awards for Enterprise are the UK's most prestigious awards for business performance. The awards are made each year by Her Majesty the Queen, on the advice of the Prime Minister, assisted by an Advisory Committee of representatives of government, industry and commerce, and the trade unions.
Mr John Evans, Managing Director of Simcyp Limited, commented: “It is an honour to receive the Queens’ Award in recognition of Simcyp’s ongoing innovative research and development. Our cutting-edge technology, together with the support and educational services we provide, ensure our continued and growing business relationships with the world’s major pharmaceutical and biotechnology organisations.”
Simcyp, which earlier this year was listed amongst the UK’s top 15 fastest growing companies, is based in Sheffield and employs over 40 staff. The firm continues to expand, despite the tough economic climate, and expects turnover to increase by a further 20% this year.