Laureate sees momentum continue

US full- service biopharmaceutical development and protein production company Laureate Pharma has seen significant growth for the first quarter 2007, more than doubling its revenues compared to the same period last year, and recognizing increased demand for its contract biomanufacturing services. It did not, however, release trading figures.

As part of its growth strategy, Laureate says it is moving ahead with the expansion of its workforce and its facility located in Princeton, New Jersey. The company renewed and extended its lease term to 2016, commissioned its brand new pilot plant to accelerate non-current Good Manufacturing Practice production projects, entered into key strategic alliances with Boehringer Ingelheim, formed a scientific advisory board and elected a new non-executive chairman for its board of directors.

"We have a very good start to the fiscal year as evidenced by solid revenue results for the first quarter," said Robert Broeze, chief executive, adding: "we have a strong pipeline of projects and are continuing to win an impressive number of clients. We are focused on executing upon our strategies and operational excellence, which will further accelerate growth going forward."