Althea Technologies Receives Fast Growth Honors: Deloitte Technology Fast 50 and San Diego Busienss Journal Fast 100 Awards for the Fifth Consecutive Year
10.14.2008 Althea Technologies Receives Fast Growth Honors: Deloitte Technology Fast 50 and San Diego Busienss Journal Fast 100 Awards for the Fifth Consecutive Year
SAN DIEGO – October 14, 2008 - Althea Technologies, Inc., a leading provider of innovative technologies and services for pharmaceutical development and manufacturing, announced today that it has been honored to receive two fast growth awards, Deloitte LLP’s San Diego Technology Fast 50 and the San Diego Business Journal 100 Fastest Growing Private Companies, for the fifth consecutive year. The Deloitte Technology Fast 50 is an annual ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area based on a percentage revenue growth over a five year period. The San Diego Business Journal bases its award on revenue growth over three years.
Althea supports new biopharmaceutical developers and pharmaceutical firms, who require specialized facilities and expertise to manufacture their products under exacting conditions. While year-on-year revenue growth has been driven primarily by its manufacturing services, Althea also provides specialized testing, biomarker development services and has recently launched AltheaDx, a spin-out targeting oncology diagnostics and services.
To qualify for the Deloitte Technology Fast 50, companies must have had operating revenues of at least $50,000 in 2003 and $5,000,000 in 2007, be headquartered in North America, and be a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
The San Diego Business Journal selection process included percent revenue growth achieved from 2005 to 2007, required that the company be privately held, based in San Diego County and have a minimum revenue of $200,000 in 2005 in order to be considered for the list.
President and Co-CEO of Althea, Dr. Magda Marquet, added, “Receiving Deloitte’s Fast 50 award and the San Diego Business Journal’s Fast 100 award for the fifth year in a row is affirmation that we are continuing to listen to our pharmaceutical and biotechnology clients' requests and meet their demands for flexibility, compliance and service in advancing their exciting products. We are grateful for the confidence our growing client base has placed in us, a confidence earned through the dedication and hard work of our employees.”
About Althea Technologies, Inc.
Althea Technologies, a leading San Diego-based pharmaceutical services firm, provides critical manufacturing services that support researchers worldwide in their advancement of novel therapies and efforts to apply new genomic information. Althea’s services include cGMP contract manufacturing of recombinant proteins, DNA-based therapeutics and vaccines, and aseptic filling.
As used in this document, “Deloitte” means Deloitte LLP. Please see www.deloitte.com for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
About The San Diego Business Journal
The San Diego Business Journal is the area’s number one source for local, late breaking business news. For over 29 years, the Business Journal has provided in-depth coverage of the banking and finance, real estate, technology, tourism, life sciences and local government sectors, with a healthy dose of small business coverage as well. For more information please visit visit www.sdbj.com.