MOTEHRWELL chemical company BioAscent has said its new online library is the ‘Spotify of the drug discovery world’.

The company has also said the launch of Compound Cloud will see revenues surge by 300 per cent to more than £1m, with three-quarters of business coming from overseas.

BioAscent provides storage, logistics and delivery of chemicals to the pharmaceutical industry, biotech companies and academics across the globe.

Its new Compound Cloud facility is a database of more than 125,000 compounds that its customers can use their drug development research.

Where previously, organisations had to create their own compounds or buy fixed sets in large amounts, Compound Cloud gives users control over the content and format of their compound library in order to meet their exact needs.