Cresset scales in US with new Boston facility as global business surges

Cresset has had a US distribution network in place for some time but this is the company’s first physical facility across The Pond. More than 50 per cent of Cresset revenues now come from outside the UK as part of amazing growth in recent years.

The establishment of a US presence – especially in Boston – is a major milestone in the next phase of the company’s international growth. Cresset has been on a remarkable expansion journey in recent years with average year-on-year growth of more than 25 per cent and a significant increase in headcount since 2020.

Its new site will be based in the Cambridge Innovation Center (CIC) building which is already home to more than 300 life science and biotech organisations ranging from startups to accelerators, innovation arms of global pharmaceutical companies and venture capital firms.

There will be an initial team of six at the facility and Cresset will be sending one of its directors to the site at least once a month. It plans to grow the operation over the coming year.

The US entity will enable Cresset to employ people directly in North America for the first time, bringing the company closer to its customer base and expanding relationships with the world-class scientific talent available in the Boston area.

Boston is one of the leading industry clusters in the US, hosting over 1,000 biotech companies and is the headquarters of global pharma giants such as Biogen, Shire and Takeda.

The Massachusetts area attracts one of the highest rates of venture capital funding in the United States, with biopharma companies receiving $5.1 billion in the first half of 2022, as well as the highest rates of National Institutes of Health (NIH) funding.

Cresset’s fledgling Boston team will be able to host face-to-face meetings and customer workshops to spearhead the next phase of North American expansion.

Dr Robert Scoffin, CEO of Cresset, said: “Having such a highly skilled team in place in Boston will help enable greater integration between the UK and US teams and provide opportunities to network with the local community. As part of this, we have committed to putting a Director in Boston on a regular basis to cement our presence in the local pharma and life science community.

“The centres of excellence in Cambridge and Boston are world-renowned and have become a focal point for investment and growth over the last 15 years.

“The office will enable us to offer more local support to our clients, which is in their time zone, and provide that crucial in-person contact for building relationships.

“Through the benefits of being part of the CIC building and other regional associations, we will be able to support our US clients more effectively and enhance our existing service offering.”

Chemists in the world’s leading research organisations use Cresset solutions to discover, design, optimise, synthesise, and track the best small molecules.

Its patented CADD Software, collaborative Torx® DMTA design-make-test-analyse platform, and expert Discovery CRO scientists, enable chemists to enhance efficiency and win the race to scientific success in industry sectors including: pharmaceuticals, agrochemicals, fine chemicals and flavours & fragrances.