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Zifo will expand its operations in Chennai with plans to recruit around 1,000 employees during this calendar year. It will touch revenue of ₹1,000 crore in the current fiscal year ending March 31, 2024. The Chennai-based company has been growing at around 30 per cent over the last few years, according to Raj Prakash, MD and CEO, Zifo.
In 2008, the company was started with an aim to deliver specialised IT services for the life sciences industry by providing scientific IT support for clinical trials applications. It increased its offerings to become a full spectrum clinical biometrics service provider and expanded to research and lab information services, he told businessline.
“We are preferred scientific informatics partners for 11 out of the top 15 global biopharma companies. We help them accelerate their drug discovery and development lifecycles,” he said, without revealing client names. Zifo provides scientific information services across R&D, manufacturing and clinical domains in sectors like pharma, biotech and chemicals, he added.
Range of services
Zifo delivers a full range of scientific informatics services, including business analysis, programme and project management and validation. It helps clients enable the digital transformation of drug discovery, clinical development, manufacturing quality control and genomics across the pharma, biotech, medical device and process industries.
These services are supported by specialists in bio-informatics, data science, cloud, data modelling and AI/ML. There are nearly 30 PhDs in the company, he said.
Globally, Zifo plans to nearly double its headcount to nearly 5,000 from the present 2,300. Around 500 employees work in 11 countries, including the US and UK, he added.
On Tuesday, Tamil Nadu’s IT minister Palanivel Thiaga Rajan inaugurated a 50,000 sq ft of new office block to the company’s existing operations in the city.
Prakash said the serviceable available market for scientific informatics services in Europe alone is $12 billion. Globally, the number is huge, he said. “We help our clients accelerate R&D and in drug discovery,” he said.
In May 2022, TA Associates, a global growth PE firm, invested $250 million to acquire a significant stake in Zifo. “We are using the funds to scale up and for growth. We will continue to grow around 30 per cent annually,” Prakash said.
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