GroPep was founded in 1988 by CSIRO (the Australian Government's Commonwealth Scientific & Industrial Research Organisation) and the University of Adelaide. GroPep listed on the Australian Stock Exchange in August 2000. Contract manufacturing was added to GroPep's business in February 2002 through the acquisition of the assets of Biotech Australia. 2002 saw GroPep change its strategy to focus on increasing growth of the Cell Culture products business, and focus the Drug Development business on to a smaller number of projects. This included the decision to close the company's Sydney site and consolidate GroPep's manufacturing operations in Adelaide. GroPep develops, markets and commercialises its own growth factors in the areas of Drug Development, Biotechnology Reagents, Cell Culture, and Contract Manufacturing. In Pharmaceutical Drug Development, GroPep has developed a series of collaborations through which early stage research on growth factors is fostered. GroPep then in-licenses promising drug candidates from the Discovery stage and funds their subsequent development.