Horizon Discovery signs master service deal with top three global pharmaceutical firm
Horizon Discovery Group has signed a Master Services Agreement (MSA) with a top three global pharmaceutical company, extending support for their drug discovery and development efforts to its full suite of services.
Adding to a pre-existing MSA for in vivo services, the terms of this agreement now covers a range of Horizon’s in vitro service offerings, defining the pricing and terms that will govern future transactions and facilitating simplified entry into forthcoming agreements.
Services included under the MSA are: custom cell line engineering, target identification and validation screening (including the use of CRISPR gene editing technology), drug combination screening, and cell-based assay services.
Horizon is establishing itself as a key provider to an increasing number of major pharmaceutical and biotech companies by delivering reliable, high-quality, high-value services, and by strengthening key relationships within each organisation.
In this way, Horizon was able to negotiate this agreement, building trust with the Company and becoming a preferred provider over time. It is now Horizon’s single largest customer, contributing over £1.5m in revenue in 2016 (£0.6 million FY15) and the current project pipeline indicates there will be an expansion of revenue received in 2017.
Horizon Discovery CEO Dr. Darrin Disley said: “Today’s announcement demonstrates the success of Horizon’s strategy of deepening relationships with our top customers. By taking a broader and more integrated approach, we are able to identify areas where we can provide significant value and are able to offer unified solutions that involve a range of Horizon’s services.
“In 2016, our top 20 customers provided over £9.8m to the Group, and in 2017 we are looking to increase our revenue from this segment by at least 20%, with this agreement serving as a template.”
Source: Company Press Release