STATE COLLEGE, Pa., Jan. 29, 2020 /PRNewswire-PRWeb/ -- INDIGO Biosciences, Inc. (INDIGO), the recognized industry leader in nuclear receptor and in vitro toxicology testing solutions, has announced a record earnings year for 2019. With final numbers to be released to Company Shareholders in the upcoming weeks, INDIGO showed more than a twenty percent increase in revenue and a thirty percent increase in gross profit, and more than 175% increase in EBITDA, all while continuing R&D efforts and completing a Company relocation.
"With the help of our customers, shareholders and team members, INDIGO provides superior products and service to the industries we serve. 2019 represented a breakout year, and we are excited about the future," said Fred Marroni, INDIGO's President and CEO. "We look forward to continuing to expand our product offerings, our industries served, and world-wide distribution capabilities."
The Company, founded in 2005, is known for providing the world's largest portfolio of nuclear receptor assay kits and services, as well as solutions for in vitro toxicology testing, for early-stage discovery testing. 2019 saw an expansion in INDIGO's toxicology offerings with the addition of three additional testing solutions, including assays for drug-induced toxicity, multi-drug resistance, and gene expression profiling. In addition, the Company's Science Team introduced two new animal model assays for the Farnesoid X Receptor - a nuclear receptor critical to metabolic disorder, Non-Alcoholic Fatty Liver Disease, and toxicology research.
INDIGO expanded in other ways as well in 2019, including the relocation of the Company to a new, larger facility. With expanded laboratory space and key collaboration areas, the move allowed the Company to remain in State College and provides enough space for a near doubling of capabilities and personnel in the upcoming years.
Looking Forward
The INDIGO team continues to look for methods and arenas to further grow the company in terms of both product and service offerings, as well as expanded customer and partner collaborations. The Company has already started 2020 off with the announcement of the addition of four first-in-class zebrafish model assays to their portfolio. Continued R&D efforts are anticipated to help bring additional products to market in both the cell-based assay and toxicology markets. Plans for the new year also include expanding the Science staff, and Sales and Marketing team.
About INDIGO Biosciences, Inc.
INDIGO Biosciences, Inc. is a leading provider of nuclear receptor and in vitro toxicology solutions that accelerate scientific decision-making. INDIGO supplements the world's largest portfolio of nuclear receptor kits and services and in vitro toxicology solutions with greater results readability, reproducibility, and faster turnaround times. Our solutions, plus supportive team and reliable science and platforms aim to reduce the time, cost, and risk associated with the discovery process. Learn more at http://www.indigobiosciences.com.
SOURCE INDIGO Biosciences
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