Venn Life Sciences, a Contract Research Organisation (CRO) providing drug development, clinical trial management and resourcing solutions to pharmaceutical, biotechnology and medical device clients, has reported profit of €0,5 million for the 2016.
The €0,5 million profit is increase compared to last years loss of €0,2 million.
Tony Richardson, CEO of Venn, commented: “2016 has been strong year for Venn with significantly increased revenue and improved profits after tax.”
Richardson said that the company has started 2017 with a simplified business, purely focused on service delivery with a strong backlog and pipeline of new opportunities.
“The strong momentum enjoyed by the business in 2016 has continued into 2017 to date.” the CEO said.
Richardson noted that the company has secured new contracts valued at €5.7m in the first two months of 2017.