Symbiosis is a great example of a young ambitious Scottish company that continues to look for new market opportunities overseas to grow its business.
Symbiosis Pharmaceutical Services, a leading small-scale contract manufacturer of novel injectable pharmaceuticals for use in clinical trials, currently has clients throughout Europe, Singapore and Japan.
In 2012, the company set up a base in our Boston incubator office to allow it to target new business in the US.
The company is now strategically targeting the US market to leverage its competitive strengths and address a growing demand for its services, particularly from biotechnology company clients.
From the outset, the company has tailored its service offering to meet the demands of the US market, which has the largest global concentration of clinical trial clients.
By establishing a foothold in the US, the company intends to increase its exposure and credibility with potential US biotechnology company clients and encourage more US firms to consider basing their clinical trials in Scotland, benefiting from existing compliance with European pharmaceutical regulations.
US market development support
SDI's US offices provide full on-site business development. Scottish companies can access the expertise of SDI staff and place their business in the heart of thriving US cities such as Boston, Houston and San Jose.
Lena Wilson, chief executive of Scottish Enterprise, said: “Symbiosis is a great example of a young ambitious Scottish company that continues to look for new market opportunities overseas in order to grow its business.
“Moving into the SDI incubator in Boston will help them establish a base near to potential US customers, allow it to test the market place and hopefully act as a springboard to establishing a more permanent presence in the US.
"Through our SDI staff on the ground in Boston and across the US, we’re looking forward to working with Symbiosis to realise their ambitious growth plans both in the US and in Scotland.“
Delighted with the move, Colin MacKay, founder and chief executive of Symbiosis said: "We have an outstanding track record of helping our clients meet their clinical trial deadlines. Our intention is to be the fastest and the best small-scale sterile pharmaceutical manufacturing company in the world.
"This step represents another example of how practical, proactive support from Scottish Enterprise and Scottish Development International has directly facilited the development and growth of Symbiosis both in Scotland and in entering attractive international markets like the US.”
Lena added: "The United States continues to be Scotland's number one export market, worth £3.5 billion a year, while around half of all inward investment projects to Scotland last year came from US based companies.
“As well as targeting opportunities in new emerging economies, we must continue to build on the strong links that we’ve built up in more established markets like the USA that will help us attract new investment and new jobs to Scotland and help companies respond to significant new opportunities."
Read more about our US market development support