Update: Horizon Discovery expands deal with its largest single customer

(Update contains the email from Horizon)

Horizon Discovery Group has sign a Master Services Agreement with its largest customer, which will be a template for increasing revenue for about £2 million in 2017.

The unnamed customer, for which it was only said is “a top three global pharmaceutical company” will extend support for their drug discovery and development efforts.

Horizon told us in an email that the said company requested anonymity, but pointed us to the list for the top pharmaceutical companies, according to which the top three are 1. J&J, 2. Novartis, and 3. Pfizer.

According to Horizon, the new agreement will add to the previous MSA, and it will, among other things, enable simplifying new agreements. Particular services in the new deal are custom cell line engineering, target identification and validation screening, drug combination screening, and cell-based assay services.

Horizon Discovery said it wants to build trust with this unnamed company, to become its preferred provider in future. Currently, this company brings £1.5 million in revenue (2016), with current pipeline showing this to be increased in 2017.

Darrin Disley, CEO of Horizon Discorey said: “In 2016, our top 20 customers provided over £9.8 million 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.”