This move follows Cresset's recent expansion with a facility in Boston earlier this year.
Additionally, the inauguration of this new facility reinforces the CRO’s stature as a key player in the global drug discovery space, the company said.
Commenting on the new HQ, Cresset’s chief scientific officer and co-founder Dr Mark Mackey, said: “Launching our new site in India marks a major milestone in our international growth and expansion as a company. The talent pool and centers of excellence available in the region will enable us to expand our existing service offering to clients and develop strong relationships through face-to-face contact on the ground.
“We already have a satellite office space in Bangalore, where a high proportion of our Indian staff are currently based. The new office will allow us to grow our overall business and gain access to grant funding in the Indian market”
From its origins in the UK, Cresset has grown into a drug discovery solutions company with a global reach, with more than 60% of its revenues now coming from outside the UK.
The company has experienced rapid growth in recent years, achieving an average year-on-year growth of over 25% and an increase in its employee headcount since 2020.
The new Indian office will enable Cresset to expand its existing commercial presence in the Asia Pacific region and increase its reach in a range of markets across the region, including South Korea, Japan, China, and Australasia.
Bangalore’s status as one of the top locations in the industry will also enable the company to take advantage of computational chemistry talent and be closer to its customer base.
The new staff appointments in India will span a range of areas, including sales, support, and development.
As part of their work in India, Mackey and commercial director David Bardsley will be attending the Indian Conference for Academics in Dehli on Tuesday 14th May 2024.