Venebio Group, LLC Announces Record Growth In the First Quarter of 2010
For Immediate Release
April 1, 2010
Richmond, VA - Venebio Group, LLC today announced record revenue levels and revenue growth for the first quarter ending March 31, 2010. Despite tumultuous economic conditions and continued reductions in research and development spending in the life sciences industry, Venebio’s revenue for the first quarter alone exceeded the prior full year revenue by 60%.
In addition, the number of major executed contracts between Venebio and leading life-science and healthcare product organizations increased by over three-fold from 2009 to 2010 year-to-date. “Venebio’s unique research consultancy business model has successfully demonstrated its ability to deliver customized solutions to a broad range of large clients”, said Dr. Lenn Murrelle, President and CEO of Venebio. Dr. Murrelle further stated, “There is growing evidence that our network consulting model and comprehensive services increases our clients’ ability to achieve critical business goals in the most time- and cost-efficient manner. Every Venebio client to date has signed at least one additional contract with Venebio after receiving our first deliverables”.
By offering a diverse range of strategic research consulting services with the overall objective of improving human health and quality of life, Venebio is well-positioned to experience further growth as the economy begins to show signs of improvement and word of the Company’s recent successes spreads. “The upcoming months look very promising for us”, says Dr. Murrelle. “I am looking forward to successful and long-lasting collaborations with each of our current clients and to building new relationships and offering solutions to other pharmaceutical, biotechnology and medical device companies, healthcare organizations, academic research centers, law firms, government entities and NGOs”.
About Venebio: Venebio (www.venebio.com ) is a privately held research consultancy small business that provides cost-effective, custom solutions for complex life sciences problems. By integrating the expertise of a global network of scientists in a broad range of biomedical fields, Venebio delivers comprehensive project management and start-to-finish problem solving in genetic and molecular epidemiology, pharmacoepidemiology, personalized medicine, bioinformatics, systems biology, biomarker discovery, and epidemiologic literature reviews and analysis. Venebio’s comprehensive services are offered to pharmaceutical companies, biotechnology and medical device companies, healthcare organizations, academic research centers, law firms, government entities and NGOs. Venebio is based in the Virginia BioTechnology Research Park in Richmond, and has been selected as a 2010 Greater Richmond Area Company to Watch. For more information about Venebio, email us at info@venebio.com or call 877-344-4347.
About the Virginia BioTechnology Research Park : The Virginia BioTechnology Research Park is currently home to a unique mix of more than 59 public and private bioscience companies, research institutes affiliated with the VCU Medical Center, and major state and national medical laboratories. These companies are housed in nine buildings totaling more than 1.1 million square feet of space, representing an employee base that exceeds 2,000. The Park’s Biosciences Commercialization Center has been created to take incubator graduates through commercialization to M&A or IPO, giving the Park’s tenants full-scale business assistance. The Commercialization Center is now the home of eight companies from the Israeli life science community and continues to expand its resource base. It has created alliances with leading incubators in Israel. To date, the Park’s incubator and commercialization center have graduated three companies that are now publicly traded. www.vabiotech.com.
Contact:
Courtney L. Skunda
Marketing and Communications Coordinator
Virginia BioTechnology Research Park
(804) 827-2137
cskunda@vabiotech.com
