Fast-growing Red Glead Discovery reaches €5.6 million in turnover

Johan Evenäs, CEO of Red Glead Discovery. Photo: Freddy Billqvist

SmiLe alumnus company Red Glead Discovery is one of Sweden’s most successful companies in advanced services for preclinical research. The life science company has had an annual growth rate of 30%, with sales expected to reach €5.6 million this year – more than twice as much as in 2018. Red Glead Discovery is now celebrating ten years as a company.

Red Glead Discovery offers advanced services in early drug discovery with extensive expertise within the fields of peptides and small-molecule drugs. One of the foremost companies in its niche, Red Glead Discovery has posted a profit every year and has been named a Gazelle company three years in a row by the Swedish newspaper Dagens Industri, which offers this award to the fastest growing companies in Sweden.

The company helps to discover new drug candidates by working as an external development department in close collaboration with its customers, which are mainly small and medium-sized enterprises that lack the expertise or advanced equipment that Red Glead Discovery offers.

Customers are located in Sweden, Europe and the US, and the company is experiencing growing interest from international biotech companies and large global pharmaceutical companies. Red Glead Discovery customers also include 21 companies that are current or previous SmiLe companies, which reflects the unique life science environment found in Lund.

“Within five years, we’ll be one of the leading companies in Northern Europe in preclinical research services. We see strong interest in our services, and our growth is limited not by lack of interest from specialists who want to work with us, but by opportunities to expand to larger premises, which we intend to resolve,” says Johan Evenäs, CEO and founder of the company.

Red Glead Discovery’s 50 employees have extensive experience in drug development and have been involved in an array of customer projects with drugs that have subsequently achieved market success. Examples of the company’s recent projects include development of a Covid-19 vaccine, development of drug candidates for the treatment of fibrosis and cancer, as well as for treatment of central nervous system diseases, such as schizophrenia.

“We are excited to celebrate the success of the fantastic team at Red Glead Discovery. The company has had an amazing growth journey and based on its reputation, makes an enormous contribution to putting the Swedish life science industry on the map,” says Ebba Fåhraeus, CEO of SmiLe Incubator.

For more information, please contact:
Ebba Fåhraeus, CEO of SmiLe Incubator, +46 (0)73 4000433, ebba@smileincubator.life, or Johan Evenäs, CEO of Red Glead Discovery, +46 (0)46 4601291, johan.evenas@redglead.com