Sia Partners buys Latham BioPharm Group, launches life science division
Sia Partners, a Paris-headquartered management and technology consultancy, has launched a new life science division with the acquisition of Latham BioPharm Group (LBG), an Elkridge, MD-based life science consulting firm.
Founded in 1996, LBG specializes in helping pharma, biotech, and medical device firms secure non-dilutive funding from US government agencies and NGOs. The firm also delivers product development support across discovery, preclinical, CMC, regulatory, clinical research, and project management – with expertise spanning all product types and medical devices. LBG’s strategic consulting offering includes market research, financial analysis, and transaction-related support.
The company has nearly 60 consultants across offices in Elkridge, MD and Cambridge, MA. LBG has nearly $20 million in annual revenue.
As part of the transaction, LBG founder Peter Latham will head the new global life science division at Sia Partners. Colleagues Joshua Speidel and Michael McGinnis will join as partners, with the trio all joining the US management team.
“The merger with Sia Partners opens up new horizons for us, both geographically and in terms of access to new clients such as major players in the tech industry. It also strengthens our client offerings including in the areas of BioIT and digital health," Latham said.
Sia wants to grow the new division to 200 employees by 2024, with life science clients representing a projected 10% of global revenue in 2024.
“The biopharmaceutical sector is at the heart of the current major transformations, and therefore, of our priorities. Developing first in the United States is obvious and bringing this expertise to Europe and APAC makes sense after Covid, at a time when governments have become aware of the need to have first-rate research units as well as production plants on their territories,” said Matthieu Courtecuisse, CEO of Sia Partners.
The LBG deal boosts Sia’s US revenue to a projected $150 million in the fiscal year ending June 2023.
Sia says it achieved 40% growth in Q3 2022 and has just passed 2,800 employees globally.
The France-origin consultancy earlier this year acquired Addison, a New York-based creative agency.
