Epistem agrees Japan marketing deal

Manchester-based biotechnology firm Epistem has agreed a marketing deal to have a greater presence in Japan.Manchester-based biotechnology firm Epistem has agreed a marketing deal to have a greater presence in Japan.

The company announced it has struck a deal with Japanese firm, Veritas Corporation.

As part of the deal, Epistem, which has its base on Grafton Street in Manchester, will increase its marketing operations in the Far East.

The agreement is also aimed at exploring future opportunities for growth for its research services depending on market demands.

Matthew Walls, chief executive of the company, said the deal would be a significant factor in its plans to expand.

He said: “The Japanese drug development market provides us with an important opportunity for growth and the agreement with Veritas will allow us to develop closer links with existing Japanese customers.”

Mr Walls added that Veritas has a strong scientific sales team, and that Epistem would be able to grow due to access to a wider distribution network.

Epistem, which was founded in 2000, specialises in epithelial stem cells in the areas of oncology and gastrointestinal diseases.

The contract research division of the company provides research models, preclinical efficacy testing and clinical sample analysis to the pharmaceutical, biotechnology and personal care industries.

Shares in the company, which is listed on the London Stock Exchange have fallen from 440p at the start of April to around 327.5p.

© Press Association 2010