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CTC names Alexion No. 1 among Top 40 in industry [New Haven Register, Conn.]
(New Haven Register (CT) Via Acquire Media NewsEdge) Oct. 24--WALLINGFORD -- It took 15 years for Alexion Pharmaceuticals of Cheshire to bring its first drug therapy to market, and it has proved worth the toil.
Soliris, approved in 2007 by regulators in the United States and Europe, is the only drug specifically indicated for the treatment of patients with a rare and life-threatening blood disorder called paroxysmal nocturnal hemoglobinuria.
Sales skyrocketed, and last year Alexion was named one of Connecticut's Tech Top 40 companies by the Connecticut Technology Council and the public accounting firm UHY LLP.
The award sponsors this year named Alexion as both the fastest-growing company in the state within the life sciences industry sector and the fastest-growing technology company in Connecticut overall.
The Connecticut Technology Council and UHY announced the finalists in the 2009 Tech Top 40 competition Thursday during a ceremony at the Chevrolet Theater, attended by more than 300 people.
Based on revenue growth over the last four years, 40 winners were named earlier this month across six technology sectors and those with the highest revenue growth in each category were recognized at the ceremony.
"This event is not based on popularity, it's based on documented past performance. UHY helps us with that," said CTC President and Chief Executive Officer Matthew Nemerson.
Companies had to earn at least $50,000 in revenue in the first qualifying year and $3 million by the fourth year, said Alex Discepolo, managing director and head of the New England tax practice for UHY.
"We invested $800 million in 15 years of work before we got our first approval," said Irving Adler, senior director of corporate communications for Alexion.
The onset of the disorder the treatment targets is most common among patients in their 30s, who can die within five years of diagnosis.
"Solaris is enabling people to return to work, care for their families and get back to a normal life. This award symbolizes the work we've done to help patients and being recognized by our peers," Adler said.
Joan McDonald, commissioner of the state Department of Economic and Community Development, stressed that partnerships between government, businesses and learning institutions are important for a strong state economy. "Out of competition comes great things, but at the end of the day, it's about collaboration," she said.
The five other finalists were: Bolt Technology Corp. of Norwalk for advanced manufacturing; Clean Diesel Technologies of Stamford for energy/environmental technologies; M2 Media of Stamford for new media/Internet/telecomm; L-1 Identity Solutions of Stamford for software, and Fuss & O'Neill Technologies LLC of Manchester for IT services.
To see more of New Haven Register, or to subscribe to the newspaper, go to http://www.nhregister.com.
Copyright (c) 2009, New Haven Register, Conn.
Distributed by McClatchy-Tribune Information Services.
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