Acquisition of Latham BioPharm Group
Paris, November 2, 2022. Sia Partners is accelerating its growth with the launch of a division dedicated to Life Science Consulting, thanks to the acquisition of Latham BioPharm Group (LBG), a comprehensive team of nearly 60 life science consultants with recognized global Life Sciences expertise, founded in 1996. The acquisition is effective as of October 14, 2022.
With a turnover of nearly $20m, LBG is one of the top Life Science Consulting specialty firms supporting Non-Dilutive Funding, Product Development, and Strategic decision making for a wide range of sectors and clients. LBG is considered one of the leading companies in the US supporting the search for and securing of non-dilutive funding from recognized US government agencies and non-governmental organizations (NGOs), including; BARDA, NIH, DoD (including CDMRP, DARPA, and DTRA), CEPI and others. For Product Development, LBG offers full functional product development support, including discovery, preclinical/toxicology, CMC (Chemistry, Manufacturing, and Controls), regulatory, clinical research, and project management. LBG’s expertise also spans all major product types including small molecules, vaccines/large molecules, diagnostics, gene therapy, cell therapy, diagnostics, and medical devices. LBG’s Strategic Consulting services include market research, financial analyses, and transaction-related support.
"Since the creation of LBG, our ambition has been to help our clients save and improve lives through the funding and development of their Life Science offerings. The wave of scientific innovation we are experiencing is unprecedented, particularly at the intersection of the Life Sciences and Information Technologies. The merger with Sia Partners opens up new horizons for us, both geographically and in terms of access to new clients such as major players in the tech industry. It also strengthens our client offerings including in the areas of BioIT and digital health," explains LBG Founder Peter Latham.
Together, activity in the pharmaceutical sector will represent nearly €30m, or 7.5% of the group, with a mix of Life Science consulting and strategy consulting.
Peter Latham will head Sia’s new global Life Science division within the group's ExCom, and Joshua Speidel and Michael McGinnis will be appointed Partners within the group. All three join the U.S. management team. With this combination, the U.S. business will reach the $150m mark in the fiscal year ending June 2023, or 32% of the group, and is expected to exceed $200m in the year 2023.
"The biopharmaceutical sector is at the heart of the current major transformations, and therefore, of our priorities. Developing first in the United States is obvious and bringing this expertise to Europe and APAC makes sense after Covid, at a time when governments have become aware of the need to have first-rate research units as well as production plants on their territories. The establishment of the European BARDA is an opportunity that we want to support," explains Matthieu Courtecuisse. "Pete and I have agreed on a global goal, supported by significant financial resources, that will allow us to grow organically at more than 20% per year but also to consider new acquisitions in the biopharmaceutical sector.
Sia Partners, supported by a growth of +45%, has just passed the mark of 2,800 employees worldwide, spread across 40 offices.