Red Glead Discovery celebrates its 10-year anniversary
10-year celebrating Red Glead Discovery expects 30% higher turnover for 2021 reflecting increasing customer demand for integrated drug discovery services.
Privately held Life Science consultancy company Red Glead Discovery celebrates its 10-year anniversary this month. This important milestone could be achieved by a growing demand for RGD´s offer within integrated drug discovery services focused on small molecule and peptide preclinical R&D.
Since 2011, RGD has delivered several small molecule candidate drugs for progress to clinical trials in CNS and cancer indications to clients. Recently, RGD supplied peptides for a therapeutic Covid-vaccine, demonstrating the versatility of the company’s service offer.
As the only company in Sweden with such a broad offer within integrated R&D, RGD contributes to strengthen the Swedish innovation environment in Life Science, as 40% of the business is generated in Sweden; but EU and USA are also important markets for RGD. Since 2017, RGD’s turnover has more than doubled and reached SEK 44 million in 2020. The company is expected to further increase sales with over 30% in 2021 compared to 2020, representing continuous growth from the start.
“RGD’s service platform increasingly attracts international biotech and large, global pharmaceutical companies”, says Johan Evenäs, CEO and co-founder of Red Glead Discovery, “and 90% of RGDs sales is based on returning customers, demonstrating the value delivered. “
The establishment of successful strategic partnerships to offer customers better and more niche specialist services is seen as another reason for maintaining such strong organic growth, resulting in currently 50 employees located at labs and offices at Medicon Village, Lund.
Several activities are planned to mark the occasion for both employees, key partners and the local community. “We want to recognise the effort and hard work by our employees and the trust from our clients that enabled our remarkable journey” says Johan Evenäs, CEO.
RGD aims to be one of the leading drug discovery companies in northern Europe within the next five years. While the unmet medical need of patients remains to be the focus for the drug discovery operational business, RGD has started a strategic initiative for proactively managing environmental impact across all activities. The EVP of RGD, Martina Kvist Reimer states: “RGD is committed to provide better health not only to people, but also to the planet. Therefore, we will invest in, innovate, and implement in more sustainable technologies. Green transition will be business critical and crucial to be able to respond to client needs in the future across all business areas- we hope to get recognised for our initiatives to facilitate green transition within the Life Sciences.”
About Red Glead Discovery AB
Red Glead Discovery is one of Sweden’s leading companies in preclinical contract research (drug discovery). Since its inception in 2011, the company has helped hundreds of customers in the Life Science industry develop their ideas for new drugs. Red Glead Discovery was founded by seven experienced chemists and biologists with a background from AstraZeneca R&D Lund. The company operates at Medicon Village in Lund. www.redglead.com