Cornish pharmaceutical company expanding its global horizons
A Cornish company that provides Regulatory Affairs expertise for pharmaceutical companies around the world is developing strong trade links with US pharmaceutical companies after taking part in the world's largest biotechnology conference in San Diego.
Signing up to the UK Trade and Investment Passport to Export Scheme, which identified the US market as a key area for development, two members of Camborne-based TRAC Services team were invited to make presentations to a number of companies attending the conference to highlight the company's expertise.
The company is now progressing plans to become the EU specialists for a number of US pharmaceutical companies looking to develop market opportunities across Europe.
TRAC Services has received Objective One support from several areas of investment. The company initially expanded into the Knowledge Spa business incubation units and has since progressed to Tolvaddon Technology Park. TRAC has also benefited from several graduates employed under the Unlocking Cornish Potential project. One of the aims of Objective One is to support businesses in becoming globally competitive.
According to company founder Jonathan Trethowan, who established TRAC Services in 2001, the Export Scheme was instrumental in opening trade doors that would otherwise have taken much longer to open or even remained closed.
"Opening international markets is often a lengthy process, requiring significant investment without guaranteed results. However, after signing up to the Passport to Export Scheme we were able to undertake market research through the UKTI British Consulate, attend the BIO Conference and meet with and present our Cornish business to key US pharmaceuticals in addition to also developing opportunities with companies in Australia, Canada and India.
"We have now opened the channels for some strong and lasting business ties across all areas of the globe and are confident of expanding TRAC's client base internationally as a result, which is further testament that global markets really are accessible for Cornish companies," said Jonathan.
TRAC Services provides high quality and independent consulting services to pharmaceutical, biotech, medical device and healthcare companies, acting as a link between clients and the government regulatory agencies responsible for medicinal products across the world.
Clients range from large multinationals where TRAC provides additional resource for particular projects, through to smaller start up companies without their own regulatory team who require TRAC to advise on regulatory requirements and propose a regulatory strategy for their product, as well as to liaise with regulatory agencies on their behalf.
The company has grown in line with its enhanced reputation amongst the pharmaceutical industry, and has tapped into projects such as Unlocking Cornish Potential to identify and develop graduates in Cornwall.
For more information on TRAC visit www.tracservices.co.uk or call 01209 612650.
For further information please contact Graham Buckley or Karen Baker, Mercury Public Relations, on 0845 603 8456.
The Objective One Programme for Cornwall and the Isles of Scilly has invested in the Combined Universities in Cornwall (CUC) project, both Phase 1 and Phase 2, through the European Regional Development Fund (ERDF) and the European Social Fund (ESF). Unlocking Cornish Potential is run by CornwallCollege, a partner of the CUC. The Objective One Programme has also invested in the actnow project through the European Regional Development Fund (ERDF) and the European Agricultural Guidance and Guarantee Fund (EAGGF). TRAC Services has benefited from both of these projects.
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