HistoCyte Laboratories, a Newcastle-based manufacturer of specialist materials for use in laboratory testing, is set to achieve 290% year-on-year growth after agreeing a major export contract in the US.
The company, which develops control samples used to ensure the accuracy of cancer diagnostic tests, has signed a deal with Cell Marque – a subsidiary of global science and technology supplier Merck Millipore.
The contract will see Cell Marque market HistoCyte’s products across the US through its sales force, catalogue and e-commerce site. As part of the agreement, HistoCyte’s products will also be sold globally through life sciences and technology company Sigma Aldrich, providing increased access to customers across European, Latin American and Asian markets through its distribution network.
In order to secure the partnership, HistoCyte Laboratories received support from International Trade Advisers at the Department for International Trade (DIT) to travel to meet Cell Marque’s senior leadership team in California. DIT advisers also worked closely with their colleagues in the US to raise the firm’s profile to potential new customers within the US life-sciences sector.
In addition to its US distribution deal with Cell Marque, HistoCyte directly exports its products to partners across Europe, as well as to customers in markets such as New Zealand, Israel and Canada. Export sales currently account for approximately 80% of the company’s annual turnover.
Colin Tristram, Co-founder of HistoCyte Laboratories, said: “The US accounts for 40% of the global market for diagnostic technology and supplies, so our distribution deal with Cell Marque is a major step forward for our business.
“Demand for our products has always been global, so our sales outlook has always been global too. In our experience of exporting, it’s crucial to find the right partner in each region. DIT helped make this new distribution deal possible by using its network to raise our profile in the US market, as well as providing travel funding for us to meet key contacts at Cell Marque face-to-face. I’d encourage anyone looking to start selling abroad to make the most of the support available, and make it happen.”
David Coppock, Head of UK Region (North East) at the Department for International Trade, said: “HistoCyte Laboratories is a great example of a local firm that is capitalising on global demand for the North East’s scientific and technological expertise.
“We know exporting can help firms boost their profitability and increase their resilience. To help more local businesses tap into these benefits, we have a network of 17 International Trade Advisers across the North East, who can offer one-to-one guidance and advice on everything from customs regulations to logistics and tax.
“Our trade experts also work closely with colleagues based in embassies and consulates around the world to help firms establish a foothold in target markets and meet new partners overseas. I’d encourage anyone interested in seeing what exporting can do for them to get in touch.”
Firms looking for support should call 0345 136 0169 or email [email protected] They can also visit great.gov.uk, which has information on live export opportunities and includes general information on exporting and events.