BGF has completed the successful exit of its investment in Panthera Biopartners, a leading UK site management organisation (SMO) for clinical trials. The business has received a majority investment from mid-market private equity firm LDC. As part of the transaction, BGF has reinvested and will continue to support the business as a minority shareholder, alongside LDC.
BGF first backed Panthera in 2022, completing a multi-million-pound investment alongside Gresham House Ventures, to help supercharge Panthera’s expansion plans.
Established in 2019, by co-founders Dr Ian Smith and Professor John Lyon, Preston-based Panthera supports a breadth of customers (including the world’s largest pharmaceutical companies and contract research organisations) with patient recruitment, and preparation and execution of clinical trials.
Panthera covers a range of therapeutic areas spanning Cardiovascular and Rheumatology, to Central Nervous System, Vaccines and Respiratory related trials. Leveraging an extensive proprietary patient database, the business enables highly targeted patient recruitment and efficient trial delivery.
Since receiving investment from BGF and Gresham House Ventures, Panthera has experienced significant growth and established a strong reputation in the clinical trials sector – strengthening its position as a leading SMO in the UK.
The business has expanded its national footprint, with two new site openings, broadened its capabilities into new therapeutic areas, and driven continued improvements in operational delivery, through digital innovation. Over the same period, the business has achieved rapid growth, with revenue increasing by more than 200%.
Stuart Young, CEO of Panthera Biopartners, said: “BGF has been a strong partner to Panthera, supporting our growth journey with strategic insight and operational expertise. Together, we’ve built a differentiated SMO model with strong foundations for scale.
“As we look ahead, we’re excited to be working with LDC, to further accelerate our expansion across the UK and into Europe, continue to grow our site network, and deliver larger, more complex clinical trials.”
The exit marks another successful outcome for BGF, which remains committed to backing ambitious founders and management teams driving growth across all sectors and regions.
Jill Williams, Partner at BGF, commented: “We’re proud to have supported Panthera through an exceptional period of growth, backing a highly capable team, in a growing and strategically important segment of the healthcare market.
“Since our initial investment in 2022, the business has expanded its UK footprint, entered new therapeutic areas, and enhanced its operational delivery through digital innovation. Panthera has developed into a market-leading SMO with a differentiated model. We’re excited to reinvest and continue our partnership, alongside LDC, as the company enters its next phase of growth.”
