Crown Bioscience Announces Record Breaking Growth With First 2017 Quarter Results
May 19, 2017
(Santa Clara, Calif., May 19, 2017) — Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE: ticker 6554) and a global drug discovery and development services company providing translational platforms to advance oncology and metabolic disease research, announces continued growth in 2017 with dramatic first quarter results.
In Q117 revenue reached NT$493 million, a 34% YOY (year-over-year) growth. Gross margin reached 49.3% with EPS (earnings per share) of NT$0.13. With the strong demand for Oncology and Immunology therapy, the company anticipates sustained revenue growth and increased profitability through 2017.
To achieve this growth CrownBio leveraged its existing platforms of PDX CDX pharmacology models, and expanded immuno-oncology translatable models while broadening the portfolio offering to inflammatory disease. This extensive portfolio supports the therapeutic continuum of Oncology, Cardiovascular, Metabolic and Inflammatory disease research.
“The double and triple digit growth regionally, proves CrownBio’s global reach and strong local presence is servicing our client base with sound scientific offering’s”, said Laurie Heilmann, SVP of Global Strategy, Business Development and Marketing, “Our Immuno-Oncology, Cardiovascular and Metabolic translatable models, along with strong performance in Europe, US and the Western APAC region were significant contributors to the growth.”
Continued diversity across their service offerings, while remaining client centric, has enabled Crown to secure confidence by demonstrating growth in 75% of the top tier pharma companies. “CrownBio brings clarity to drug discovery with end to end solutions that help recognize the next clinical candidate sooner.”, said Dr. Jean-Pierre Weary, CEO. “We will further advance preclinical and clinical research through accelerating development of technologies, including biomarker discovery and precision diagnosis, that are needed to bring the right molecule to market.”
For more information on CrownBio’s commitment to furthering the field of oncology and metabolic disease drug discovery, visit https://www.crownbio.com.
About Crown Bioscience Inc.
Crown Bioscience is a global drug discovery and development solutions company providing translational platforms to advance oncology and metabolic disease research. With an extensive portfolio of relevant models and predictive tools, Crown Bioscience enables clients to deliver superior clinical candidates.
Crown Bioscience Inc.