Crown Bioscience Announces Record Breaking Growth With First 2017 Quarter Results
SANTA CLARA, Calif., May 19, 2017 (GLOBE NEWSWIRE) -- Crown Bioscience, a wholly-owned subsidiary of Crown Bioscience International (TWSE: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 Q1 17 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 patient-derived xenograft (PDX) and cell line derived xenograft 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 offerings," 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 CrownBio 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 Wery, 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 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.
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