LDC invests in Panthera Biopartners to accelerate expansion

Arrowpoint Advisory’s Healthcare and Debt Advisory teams have advised LDC on its investment in Panthera Biopartners (“Panthera”), the UK’s largest Site Management Organisation (SMO) for commercial clinical trials. The investment, alongside reinvestment from existing shareholders BGF, will support Panthera’s expansion plans and further enhance its clinical capabilities.

Established in 2019 by co-founders Dr Ian Smith and Professor John Lyon, Panthera specialises in the recruitment of patients and running of Phase II and Phase III clinical trials. Its service offering spans trial planning, data collection and patient retention. Headquartered in Preston, Lancashire, the company operates six UK sites with two more planned and provides clinical trials for eight of the 12 largest pharmaceutical companies and all of the largest seven clinical research organisations (CROs).

Panthera has an outstanding market reputation due to its ability to recruit patients at speed and provide sponsors with certainty around study delivery, streamlining the route to commercialisation. Access to a large number of Principal Investigators (PIs) across the site network enables the business to service studies across a broad spectrum of therapeutic areas including vaccines, cardiovascular medicine, diabetes, neurology, respiratory medicine, dermatology, rheumatology and early dementia trials. In 2024, Panthera was the top global recruiter in four international clinical studies and had the first patient recruited in nine trials globally or within the UK.

LDC is backing the existing management team, led by CEO Stuart Young, CCO Chris Dodd, CFO Rory Lloyd, CMO Dr. Mahadev Ramjee and CIO Andy Broomhead. Dr Ian Smith will continue to advise the company. With LDC’s support, Panthera will seek to further expand its operations in the UK and Europe, increase its number of clinical sites, invest in technology, and scale its trial delivery capabilities. As SMOs continue to play an increasingly pivotal role in the drug development value chain, an exciting opportunity for growth exists.

Stuart Young, CEO, Panthera, commented: “We’re incredibly proud of what the team at Panthera has achieved and are excited to partner with LDC for this next phase of growth. Their investment will help us accelerate expansion, enhance our capabilities, and continue delivering for our clients and patients. With LDC’s support and experience, we look forward to broadening our reach into Europe and expanding access to clinical trials across new regions.”

Grant Goodwin, Investment Director at LDC, added: “Patient recruitment and dropout rates have historically been one of the biggest hurdles to efficient clinical trial processes and it’s this challenge that Panthera has proven it can solve. Stuart and his excellent team have built a trusted operation with well-established client relationships. We’re looking forward to supporting them as they pursue their growth strategy.”

Karen Dawaf, Managing Director at Arrowpoint Advisory, commented: “It was a pleasure to support Grant, Alex, and the LDC Manchester team on this pivotal transaction in the SMO space. We’re proud to have played a role in this milestone and look forward to seeing the exciting opportunities that lie ahead for Stuart, Chris, Rory and the wider Panthera team.”

Dustin Stevens, Director at Arrowpoint Advisory, added: “We are delighted to have supported LDC Manchester in their investment in Panthera, marking an exciting new phase for the business. Stuart, Chris, Rory and the team have built a market-leading platform with great growth potential. With LDC’s backing, Panthera is well-positioned to accelerate its expansion and continue to unlock further value.”

Neil Smith, Managing Director at Arrowpoint Advisory, concluded: “It was great to work with LDC and Panthera on this important transaction. Panthera’s excellent track record and outstanding market reputation ensured that we were able to provide a highly flexible and best-in-market financing package, which has been tailored to facilitate the exciting growth prospects of the company. We wish LDC and Panthera all the best with their expansion plans.”

This transaction represents a landmark deal for Arrowpoint Advisory’s newly-established Manchester team, who played a key role in delivering local execution support. It showcases Arrowpoint Advisory's deep sector expertise and strong regional capabilities, resulting in a successful outcome for a leading North West-based investor on a high-profile, locally headquartered business.