Arranta Bio is pleased to be among the top 50 second-stage companies in Florida selected as honorees in the 2020 GrowFL Florida Companies to Watch, a statewide competition that identifies companies expected to see significant growth over the next several years. The 2020 GrowFL Florida Companies to Watch awards celebration is brought to you by Nperspective CFO & Strategic Services, in association with the Edward Lowe Foundation.
Arranta Bio, a world-class CDMO supporting pioneers in the microbiome-based clinical space, was one of 82 finalists announced in September; Fifty honorees were selected after a final round of judging by a panel of independent judges comprised of past honorees, economic development leaders and corporate partners of GrowFL. Companies were judged on a number of criteria including: growth in number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
Companies to Watch was developed by the Edward Lowe Foundation as a unique way to recognize and honor second-stage companies that demonstrate high performance in the marketplace with innovative strategies and processes, making them “worth watching.” GrowFL received more than 400 nominations for the award this year.
“These stand-out companies are all led by entrepreneurs, and have demonstrated not only their willingness to grow, but their capacity to do it successfully,” said Dr. Tom O’Neal, GrowFL Founder, said.
“We’re delighted to receive recognition for an amazing year of growth, building on a decade of commitment to this space, and looking forward to helping the microbiome research and biotechnology community in Gainesville, Fl thrive,” Aaron Cowley, chief scientific officer at Arranta Bio, said.
“The 50 second-stage companies named as GrowFL Florida Companies to Watch Honorees reflect the exceptional leaders who are making a difference in growing and diversifying the state of Florida,” said Jennifer Barrows, Chairman of the GrowFL Advisory Board and Business Development Executive with Withum. “Second-stage companies are defined as those with 6 to 150 full-time employees and between $750,000 and $100 million in annual revenue. As the only organization in Florida that focuses exclusively on this state of business, GrowFL works to develop program specifically to support and celebrate them.”
In the 12 months since acquiring Captozyme, the FL-based CDMO founded in 2009 by Dr. Aaron B. Cowley, Arranta Bio has invested more than $16 million into the Gainesville facility, including an expansion of the process development labs, which added capacity for up to 45 process development scientists, and expansion of the GMP clinical manufacturing area. Arranta’s Florida location has added more than 40 new employees in the last year, more than tripling the headcount.
From 2016 through 2019, these companies generated $813 million in revenue and added 668 employees, reflecting a 103% increase in revenue and 113% increase in jobs for the four-year period. That translates into a 27% average annual revenue growth and 20% average annual growth in employees.
Even through the pandemic, these companies projected continued growth in 2020, with a 15% revenue increase and 17% growth in employees compared to 2019. If their projections hold, these companies will have generated $1.14 billion in revenue and added 887 employees over the last five years — a 133% increase in revenue and 150% increase in jobs since 2016. Companies named to the list will be officially recognized at the 10th Annual GrowFL Florida Companies to Watch Celebration on February 18, 2021 at the Hammock Beach Resort and Spa in Palm Coast, FL. The event will also be broadcast live.