Source BioScience reports continued growth for 2011

Source BioScience has published its financial results for the business year ending on December 31st 2011, highlighting a 13 percent annual increase in revenue.

The company generated 15.2 million pounds in sales, with profit and earnings levels also increasing thanks to major developments in its LifeSciences business unit.

During 2011, Source BioScience successfully introduced an overnight DNA sequencing service in the UK, while its new GenomeCube offering provides clients with access to the world's largest integrated clone and antibody library.

The firm has also agreed new NHS partnerships, restructured its imaGenes business and purchased the freehold land and buildings of its head office premises in Nottingham.

Laurie Turnbull, chairman of Source BioScience, said: "Significant opportunities are apparent across all areas of the group, in line with the increasing demands … for faster, more efficient and more accurate molecular diagnostics and gene sequencing services."

This comes after the company announced a new agreement with the Pennine Acute Hospitals NHS Trust last month over the adoption of its cervical cancer screening technology BD FocalPoint for hospital use.