Frog Capital, the growth capital investor, is backing the continued expansion of drug development services company, Xceleron, which has just completed a new round of finance led by new investor, Solon Capital, supported by existing investors Albion Ventures and Frog.
Founded in 1997, Xceleron provides unique and robust human data and insights to inform the full range of decisions that determine drug development success, from early preclinical testing through late-stage development.
The company combines technical expertise with vast drug development experience and the industry’s most rigorous analytical quality processes to provide its partners with reliable information for critical decision-making.
Despite intensive pre-clinical screening, only one of every 5,000 compounds today makes it from laboratory bench to bedside, with 30% of new drugs failing in Phase 1.
The Company is expanding its bioanalytical capabilities, following a year of strong growth which saw it partnering with most of the world’s top 20 pharmaceutical companies.
“Our growth reflects the significant challenges facing our customers and our ability to deliver cost-effective insight into a molecule’s characteristics, starting in the pre-clinical stage and extending throughout clinical development,” said Michael Butler, PhD, CEO, Xceleron. “The new investment will allow us to expand our capacity, in line with customer demand.”
There are currently seven drugs on the market that have used Xceleron AMS data in filing, and others in late stages of development.