Proteome Sciences to open new San Diego facility

12th May 2023 11:07

(Sharecast News) - Proteomics service provider Proteome Sciences announced its plan to expand operations into the United States on Friday, with a new facility to be located in San Diego, California.

The AIM-traded firm said the move was aimed to capitalise on growing demand for proteomics services in the pharmaceutical and biotechnology sectors, particularly in the research hubs of the west coast of the US.

It said its subsidiary, Proteome Sciences US, had already started the recruitment of staff, with the new facility expected to be fully operational by the fourth quarter.

"This is a major development for Proteome Sciences, building on the strong foundations of our services business in Europe," said the company's chief scientific officer and president of Proteome Sciences US, Dr Ian Pike.

"Whilst we already have an excellent customer base in the US, concerns over shipping costs, timing delays and customs delays have restricted the volume of orders that could be processed.

"We will now be able to provide a more accessible service to the rapidly growing pharma and biotech community across the US as the demand for proteomics services continues to expand."

Chief executive officer Dr Mariola Söhngen added that internationalisation was a "key element" of Proteome's growth strategy.

"With a major part of our service and reagent business already focused over there, it is a logical step to establish our own facility for customers in the US.

"This is a real milestone for Proteome Sciences and we are looking forward to improving our service to the US marketplace with the San Diego facility opening later this year."

At 1103 BST, shares in Proteome Sciences were up 6.62% at 4.64p.

Reporting by Josh White for Sharecast.com.