Data analytics deal is gamechanger for spin-out Fios
Gamechanger: Max Bylesjö: Sarah Lynagh Martin Ramsay will lead growth
Scottish spin-out Fios Genomics which helps firms analyse large amounts of data during drug development has partnered with a global research organisation.
The partnership will give clients of Charles River Laboratories access to the Edinburgh firm’s expertise in bioinformatics, statistics and biology.
It is described as a gamechanger for the Edinburgh University spin-out which currently works with more than 100 clients, principally in the US and Europe.
Fios was formed in 2008 and is located within Edinburgh’s BioQuarter. Charles River has also made a strategic investment in the firm, which plans to use it to accelerate increase its headcount from its current 30 to 50, with the recruitment of further bioinformaticians, project managers and other support staff.
Dr Sarah Lynagh, chief executive at Fios, said: “This partnership takes Fios to the next level, opening up opportunities for the business right around the world. It is great news for Fios, for our expert team here in Edinburgh and for our very supportive investors.”
Fios’s investors include Edinburgh-based business angel investment syndicate, Archangels; Borders-based syndicate, TRICAPITAL; Scottish Investment Bank; and Edinburgh University.