Source BioScience maintains growth in third quarter

Source BioScience has expressed satisfaction with its continuing growth during the third quarter of the current fiscal year.

The science company's cash resources as of September 30th 2010 stood at 5.8 million pounds, up from 5.5 million pounds at the end of June, with debt levels currently rating as negligible.

In the life sciences market, the firm has been able to advance its position with the recent acquisitions of two Illumina HiSeq 2000 sequencing platforms and the launch of a comprehensive new website.

Meanwhile, in the healthcare and pharmaceutical biotechnology sector, Source BioScience has continued to expand its offering of diagnostic tests and screening services.

In July 2010, it was awarded a new contract to supply cytology services to Cervical Screening Wales until July 2013.

Dr Nick Ash, managing director for Source BioScience, said: "We have sustained the robust start to the financial year, with all divisions performing well and in line with expectations."