ASCEND ADVANCED THERAPIES LIMITED
Backed by life sciences investors including Abingworth and Monograph Capital, the company is a biotechnology business focused on the research, development, and manufacture of gene and cell therapies.
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Cash
£39m
+69.2% highest in 3 filed years
Net assets
£46m
+17.9% highest in 3 filed years
Employees
183
+94.7% highest in 3 filed years
Profit before tax
-£26m
+14.6% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
Net assets
3-year trend · vs Health Care median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | £1,630,270 | £11,538,057 | +607.7% | |
| Operating profit | -£8,299,181 | -£30,648,665 | -£26,593,919 | +13.2% | |
| Profit before tax | -£8,299,181 | -£30,154,720 | -£25,747,865 | +14.6% | |
| Net profit | -£7,370,848 | -£29,102,611 | -£26,246,299 | +9.8% | |
| Cash | £2,656,666 | £23,256,905 | £39,350,217 | +69.2% | |
| Total assets less current liabilities | £3,512,076 | £43,171,621 | £50,869,262 | +17.8% | |
| Net assets | £3,512,076 | £38,818,885 | £45,775,684 | +17.9% | |
| Equity | £3,512,076 | £38,818,885 | £45,775,684 | +17.9% | |
| Average employees | 20 | 94 | 183 | +94.7% | |
| Wages | £2,164,419 | £8,493,071 | £12,934,067 | +52.3% | |
| Directors' remuneration | £58,335 | £312,073 | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Return on capital employed | -236.3% | -71.0% | -52.3% | |
| Gearing (liabilities / total assets) | 32.1% | 19.9% | 40.4% | |
| Current ratio | 2.58x | 5.00x | 1.93x |
Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- ASCEND ADVANCED THERAPIES LIMITED 2024-03-03 → present
- ASCEND GENE AND CELL THERAPIES LTD 2021-08-11 → 2024-03-03
- GCTX BASECAMP UK LTD 2021-06-22 → 2021-08-11
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Nortons Assurance Limited
- Audit opinion
- Qualified
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Directors are satisfied that the Group will have sufficient resources to meet its liabilities as they fall due for at least twelve months from the date of signing these financial statements, and accordingly continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- ASCEND ADVANCED THERAPIES LIMITED · parent
- Ascend Advanced Therapies CA Inc 100%
- Ascend Advanced Therapies GmbH 100%
- Ascend Advanced Therapies FI Inc 100%
Significant events
- “The Group introduced Ascend Advanced Therapies FL Inc. into the Group in 2024.”
- “Additional fund raising of $41m was received in May 2024, allowing the Group to acquire a manufacturing facility in Alachua, Florida.”
- “In November 2024, the Group expanded its United States manufacturing and development footprint through the addition of Advanced BioScience Laboratories, Inc. ("ABL").”
- “Average employees increased from 94 to 183 during the year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| THORELL, Per Fredrik | Director | 2026-01-20 | Jul 1988 | Swedish |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| OAKWOOD CORPORATE SECRETARY LIMITED | Corporate Secretary | 2021-06-22 | 2026-01-22 |
| BEECHAM, Michael Charles | Director | 2023-02-07 | 2024-11-06 |
| COHEN, Fred | Director | 2021-12-29 | 2024-11-06 |
| FUNNELL, Timothy Michael, Dr | Director | 2021-06-22 | 2024-11-06 |
| KERN, Justin Wesley | Director | 2024-07-22 | 2024-11-06 |
| KOZLOV, Andrey | Director | 2023-03-20 | 2024-11-06 |
| MAY, Andrew Paul | Director | 2022-03-12 | 2023-02-15 |
| MCCONNELL III, Errett Wesley | Director | 2024-11-06 | 2025-06-03 |
| MURALIDHAR, Balaji | Director | 2023-02-07 | 2024-11-06 |
| SHIOZAKI, Eric Norio | Director | 2023-02-07 | 2024-07-22 |
| SINCLAIR, Andrew, Dr | Director | 2023-02-07 | 2024-11-06 |
| STELLA, Michael Anthony | Director | 2023-05-01 | 2026-01-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Charles Conn | Individual | Significant influence | 2021-12-29 | Ceased 2023-02-07 |
| Mr Fred Cohen | Individual | Significant influence | 2021-12-29 | Ceased 2023-02-07 |
| Dr Timothy Michael Funnell | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2021-06-22 | Ceased 2021-12-29 |
| Monograph Capital Advisors (Uk) Llp | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-06-22 | Ceased 2021-08-09 |
Filing timeline
Last 20 of 127 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-11-26 RESOLUTIONS Resolution
- 2024-11-17 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-23 | AA | accounts | Accounts with accounts type group | |
| 2026-06-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-13 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-02-10 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-10 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-29 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-12-03 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-12-02 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-07-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-26 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-17 | MA | incorporation | Memorandum articles |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.