SME of the Month July - Agenda 1 Analytical Services Ltd

Total number of people employed
4 (2 Chemists)

Company start date
September 2006

History of the Company
The company's assets (4 cGMP quality laboratories - including a microbiology suite) were purchased from Nektar Therapeutics UK after that business closed. The decision to buy recognized that the labs represented an almost unique collection of analytical equipment and methods, and that the loss of those resources by disposal and dispersion would be a great loss. 

The main focus of the company is the provision of contract analytical services to pharmaceutical companies ranging from large Pharma through to virtual companies.

Discussions with this latter group generated the concept of a "Lab Timeshare" for start up businesses. Early stage businesses needing access to any of the systems and equipment controlled by Agenda 1, purchase that access by means of a set monthly fee, reviewed every three months. This fee covers contract services delivered on any of Agenda 1's equipment with no need to seek special quotes and prices for each piece of work. Agenda 1 will also source equipment outside their own and arrange for that using their buying power and connections to complete the work faster and more cost effectively than many start ups can manage. 

An account manager is assigned to the client and the principal is that Agenda 1 is "the lab" of the company. This allows start up businesses to gain low cost access to a wide range of equipment, to understand what it is worth to them before they make purchase decisions.  The working practices are established and documented carefully at the start but thereafter the process is kept simple. This allows the new businesses to focus efforts on delivering the benefits of their technology, rather than being distracted by the low added value (but crucial) analytical work.

The company was started by Simon Bristow and Ian Siragher, using their own funds, support from the seller (Nektar Therapeutics Inc) and a bank loan.

Key Activities Starting and Growing the Company 
Agenda 1 is managed by Simon and Ian; the latter wrote the business plan using his experience as a commercial banker. Amongst the routes to growth is a unique link with lab outsourcing specialists Synergy Ltd. Synergy place contract staff into the premises of client customers. However, where those clients lack lab space, but still require work, Synergy passes such contracts to Agenda 1 who utilise Synergy staff to fulfil the contract.  This is a unique collaboration in the industry. 

The biggest obstacle to growth has been establishing connections throughout the industry, something which networking events such as those organised by the RSC have been very helpful in tackling.

What the future holds
The company is growing in 3 areas:
. Developing the "Lab Timeshare" business to utilise about 30%-40% of capacity.
. Establishing itself as a contract house for stability study work in the pharmaceutical industry via Synergy
. Broadening its offering to include tablet manufacture and access to new drug delivery technologies.

The toughest challenge is remaining sufficiently diversified to protect the business, whilst maintaining focus and not getting distracted by the myriad opportunities that exist.