Panthera

Preston-based SMO Panthera Biopartners covers a range of therapeutic areas (spanning Cardiovascular and Rheumatology to Central Nervous System, Vaccines and Respiratory-related trials). Leveraging an extensive proprietary database, the business enables highly targeted patient recruitment and efficient trial delivery. It supports a wide range of customers, including the world’s largest pharmaceutical companies and contract research organisations.

We first invested in the business in 2022, helping to strengthen its position as a market-leading SMO, with a differentiated model.

During our three-year partnership, Panthera expanded its national footprint (with two new site openings), broadened its capabilities into new therapeutic areas, and enhanced its operational delivery, through digital innovation. Over the same period, the business achieved rapid growth, with revenue increasing by more than 200%.

In 2025, following an exceptional period of growth, we successfully exited our investment, with Panthera receiving a majority investment from mid-market private equity firm LDC. As part of the deal, we reinvested in the business, as a minority shareholder, and continue to support the team through its next phase of growth.

The business plans to further accelerate its expansion across the UK and into Europe, continue growing its site network, and deliver larger, more complex clinical trials.