Revenues continued to grow in 2023 with an increase of 14.2% on last year and a strong performance given the widely reported slow-down in the overall pharma outsourced services market in 2023.

2022 was another year of successful growth for the Company. Both customer numbers and revenue per customer increased in 2022 compared to 2021 and almost 50% of 2022 fee-for-service work was for customers based in the USA.

The search for breakthroughs in medicine and discovery of new cures for disease continues to fuel the growth of the worldwide bioscience industry, with ion channel biology one of several fast-growing areas of innovation in drug discovery

As drug discovery research becomes ever more sophisticated, the emergence of ion channel proteins as novel targets for drug action and/or the source of unwanted toxicity has meant there is a rapidly growing demand for electrophysiology assays and other ion channel services and expertise.

Metrion Biosciences’ growing reputation is reflected in the rapid growth of revenues, which in 2019 increased by 67% over 2018 to a full year total of £2.53m. At the same time, the Company has significantly expanded the geographic diversity of its customers and is today regularly undertaking work for clients in the UK, Europe, the USA and Japan.