NEW YORK (GenomeWeb News) – Source BioScience today said that it has been selected as a preferred supplier of DNA sequencing services by the Research Councils UK Shared Services Centre.
Source said that the initial contract runs for two years with an option to extend to three years. It expects revenues of at least £500,000 ($775,000) per year.
RCUK is the partnership of the UK's seven Research Councils, which invest around £3 billion in research annually. Among the councils included in the partnership are the Medical Research Council, the Biotechnology and Biological Sciences Research Council, and the Natural Environment Research Council.
Nick Ash, CEO of Nottingham, UK-based Source BioScience, said that the contract is a "real vote of confidence" in the firm's DNA sequencing services, and it is expected to open up new UK business for the company.