Growth Reflects Increasing Needs of Small Life Sciences Teams
Wayne, PA, January 24, 2018 – Facet Life Sciences, a leading provider of development software and services for small and growing life sciences teams, today announced that the company witnessed record growth in 2017.
Notable business metrics included a 76% increase in services revenue over 2016. The revenue increase reflected a 33% staff expansion for Facet’s Expert consulting team. This market-driven expansion included increasing the depth of Facet’s nonclinical expertise by adding a Board-certified toxicologist to Facet’s growing list of recognized Product Development Champions.
Other significant achievements included the latest release of Gemstone®, Facet’s ground breaking regulatory software solution, continued success helping PET radiopharmaceutical manufacturers progress their products through regulated development, and the expansion of Facet’s Board of Directors to include industry veteran, Tobias Massa, Ph.D.
Dr. Lisa Jenkins VanLuvanee, Vice President, Research and Development, Facet Life Sciences, commented, “In 2017, we saw an explosion of small life sciences organizations and academic institutions using expert services and software in lieu of hiring full time staff. Our growth metrics reflect the desire to use highly-skilled nonclinical, manufacturing, and clinical experts on demand so that the majority of a small team’s financial resources can be spent on development itself. We anticipate this trend to continue in 2018 based on FDA urging companies to use knowledgeable consultants with a track record of success to help successfully navigate regulated development.”
Ken VanLuvanee, President and CEO, Facet Life Sciences, added, “Now, more than ever, small life sciences companies need services and software that are flexible and designed specifically for their needs. Our sole focus is the success of these small teams. This is where we are seeing the greatest innovations in science and where we can add the greatest value for our clients. I’m proud to say we’ve helped advance therapies that would have stagnated under more conventional approaches. We are committed to serving the small teams of today who are developing the treatments and cures of tomorrow.”
The company (formerly Virtual Regulatory Solutions) rebranded as Facet Life Sciences in 2017 to better align with their primary market objective of helping small life sciences teams navigate regulatory and development pathways in the most efficient manner.
About Facet Life Sciences
Facet Life Sciences is the leading provider of innovative development solutions (software and services) designed to help small teams get to and through the FDA©. Our Product Development Champions deliver expert nonclinical, CMC, and clinical regulatory services using cutting-edge technologies that speed product R&D efforts. Facet teams create and manage critical development documentation for some of the industry’s fastest growing, most innovative life sciences companies.