QUANTICS Biostatistics, which supports clients taking on complex challenges related to biological and clinical data, has moved to employee ownership.

It said the transition to an employee ownership trust is a key milestone that “recognises, rewards and empowers the employees who are integral to Quantics’ continued success”.

The Edinburgh-based firm provides biostatistical solutions to clients developing new medicines in the pharmaceutical and biotech sectors and was established in 2002.

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It is hoped employee-owned businesses will play an important role in the economic rebound after Covid-19 by keeping jobs, wealth and talent in Scotland.

Ann Yellowlees, company founder and director, said: “Our diverse, dynamic and talented team is at the very core of our business. We’re delighted to provide the team with the opportunity to continue to grow the company and share in its future prosperity.

“We’re confident that this aligns with the interests of our clients, our team and the business, while also empowering the next generation of talent.”

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Philip Speakman, chief executive of Quantics, said: “We’re proud of our supportive and collaborative working environment.

“Everyone here has been involved in growing Quantics to what it is today, expanding three-fold in the last five years. The new ownership model will help to foster an even stronger culture and collective responsibility to help drive the Quantics of tomorrow.

“With the support of Scottish Enterprise and expert guidance from Ralph Leishman, employee ownership specialist, it was a very smooth process, and we all look forward to a great future working together as employee owners.”

Quantics offers expert statistical support to help clients to resolve complex challenges with their biological and clinical data. Over the past 19 years, the company has grown to include a diverse team of highly experienced and qualified statistical, mathematical, scientific, programming and medical experts.

It said: “Quantics is a biostatistical solutions provider for the bioscience and medical devices industries. Through our expert consultancy and QuBAS, our powerful bioassay software, we deliver rapid, guaranteed results that make the most of every datapoint, helping clients to move rapidly through research and development to market approval.”

A rise in companies moving into employee ownership in Scotland is expected to continue this year with a further 30 firms making the move, which is double last year.

There are currently around 150 employee-owned companies operating in Scotland, with the Scottish Government targeting 500 by 2030.