Venebio The life sciences solutions network

Venebio announces record growth in 2010, strong outlook for 2011

RICHMOND, VA, January 3, 2011 – Venebio Group, LLC today announced record revenue levels and revenue growth for the full year ending December 31, 2010.

Despite continued challenges to the global economy, Venebio has grown substantially in its second full year, with revenue exceeding 2009 results by more than ten-fold. The Company ends the year having completed 23 projects with several other substantial projects still in progress and a strong book of outstanding proposals.

2010 projects and proposals were conducted for pharmaceutical, diagnostic and healthcare companies, academic research centers and United States government agencies.

When asked about this success, Dr. Lenn Murrelle, President and CEO, said, “There are two reasons for our strong performance in this tough economy: quality and value. Our growing consultant network offers a unique, high-quality array of on-demand scientific and medical expertise delivered by recognized leaders in their fields, all under a Venebio-coordinated project-management umbrella. With this innovative approach, Venebio can deliver high-quality work on time, on budget and on demand, and our clients can avoid the direct and indirect costs of building an internal infrastructure to do the same work. Quite frankly, we’re good at what we do, and we are reasonably priced. It’s a formula that is working well for our clients.”

In reviewing the past year, Dr. Murrelle notes a few highlights. “During 2010, we were fortunate to have two summer interns, one of whom has now joined the Company as a Research Analyst. In addition, we hired a highly experienced Chief Operating Officer to direct the administrative and operational aspects of our business, allowing our scientific and medical professionals to spend their full time on the business of the business. We are also proud to report that our professionals co-authored 12 peer-reviewed scientific publications this year. Moreover, Andrew Joyce, PhD, Venebio Chief Scientific Officer, was named Visiting Scholar at the VCU Center for Study of Biological Complexity, and Barbara Zedler, MD, Venebio Chief Medical Officer, gave high-level presentations to the FDA on behalf of a Venebio client.”

In looking forward, Dr. Murrelle is quite optimistic. “We enter 2011 with a strong stream of work-in-progress and several outstanding proposals, along with some exceptional new opportunities on the horizon. In addition to repeat work from current clients, we anticipate expanding our services into related markets, while broadening our geographic footprint to include projects in the UK and Latin America. We are carefully examining whether to initiate our first venture-backed intellectual property developmental project in 2011, and we anticipate adding to our professional staffing. We are also introducing executive search services aimed specifically at the life sciences field. All-in-all, a very optimistic outlook for our Company this year.”

About Venebio: Venebio (www.venebio.com ) is a privately held research consultancy small business that provides cost-effective, custom solutions for complex life sciences problems. By integrating the expertise of a global network of scientists in a broad range of biomedical fields, Venebio delivers comprehensive project management and start-to-finish problem solving in genetic and molecular epidemiology, pharmacoepidemiology, personalized medicine, bioinformatics, systems biology, biomarker discovery, and epidemiologic literature reviews and analysis. Venebio’s comprehensive services are offered to pharmaceutical companies, biotechnology and medical device companies, healthcare organizations, academic research centers, law firms, government entities and NGOs. Venebio is based in the Virginia BioTechnology Research Park in Richmond, and was selected as a 2010 Greater Richmond Area Company to Watch. For more information about Venebio, email us at info@venebio.com or call 877-344-4347.