Momentum Pharma, members of Herefordshire & Worcestershire Chamber of Commerce, are a Queen’s Award-winning, family business, providing outsourced clinical trials.

They create global teams of local clinical research experts, tailoring services to each client and trial, based on global location and disease under study.
Momentum work in 45 countries and have assisted 50+ clients in 145+ clinical trials globally. Momentum have grown from £2.3m turnover in 2021, to £3.2m in 2023.

Momentum’s clients started in the US, from existing industry connections. New relationships have expanded this reach, with business secured from UK, France, Germany, Italy and Norway. New relationships take 2-3 years to foster and within the industry ‘trust’ is incredibly important. New drugs can take over a decade to be approved for commercialisation. Attention to quality, detail and integrity of data is paramount and to achieve this level of success in 45 countries worldwide is a significant achievement.

Momentum is seeing good traction partnering with companies that previously were direct competitors. Their philosophy is simple, ‘we are better together’. In cases where huge global projects require collaboration, they focus on partnership and combined strengths. This is intriguing to clients and puts Momentum in the same league as larger market players.

More recently and forging ahead, Momentum identified specific global goals:

• Australia – engaged with local law firms/advisors to fully understand the requirements to set up a branch office in Australia to serve as a legal representative for clients. This solution will also clear the way in New Zealand.
  
• Japan – developed a trusted relationship with a Japanese company to meet the needs of clients. This has taken years of investigation, and now provides a robust solution for this country in partnership.
  
• India – actively working in this market and have developed a collaboration with a well-respected local company to strengthen proposition.
  
• Other countries – geographical reach now extends to Algeria, Columbia, India, Jordan, Mexico, Peru and Romania. The team takes advantage of the language skills within their team which includes a native Estonian and fluent Russian speaker as well as language skills in German, French and Italian. Challenges include exchange rates and currency volatility and these are managed reducing exposure to the variance on margin rather than the overall transaction costs.

Being cognisant of cultural variations is incredibly important globally and the team strives to understand protocols and etiquette worldwide.
Being a service only company protects Momentum from the negative complexity of trade agreements. They believe the positive work government is undertaking post Brexit will help their international growth in all markets. They also seek regular support from DBT to enhance their position internationally and take advantage of other assistance (e.g. Export Finance).

Alongside clear objectives for patient safety and clinical trial innovation including: wearable technology that transmits data on the patient’s status; Artificial Intelligence used as a tool to help improve cancer detection and help Oncologists interpret complex information; remote clinical trials where patients can receive home treatment, Momentum Pharma plan to continue expanding their global teams, retain exceptional people and triple their turnover over 3 years.