Scottish Equity Partners (SEP) has taken a minority stake in Exco InTouch having led a £3m ($4.7m) investment. Exco InTouch will use the funds to accelerate expansion in clinical trial technologies, particularly in mobile patient communication.
Jan Rutherford, a partner at SEP, said: “[Exco InTouch] is conducting pioneering work with world leaders in drug development which is helping to make healthcare more efficient, effective, accessible and patient-centric.”
Rutherford has joined Exco InTouch as a non-executive director and worked at Quintiles, Novartis and Merck & Co before entering the venture capital sector. Other investments Rutherford works with include contract research organisation (CRO) Cmed and health informatics business Aridhia.
Neil Rotherham, executive chairman of Exco InTouch said: “We were attracted to SEP’s extensive industry experience and heavy investment in the market sector we work in. SEP will be able to complement and challenge us, as well as helping our continuing growth.”
Exco InTouch has expanded to 40 employees in 2011 by moving to a larger US headquarters in Cary, North Carolina and opening a second UK office in Nottingham. The Nottingham office can house 30 staff.
The company raised its profile on both sides of the Atlantic by working with Pfizer on its REMOTE clinical trial. Exco InTouch is providing its eDiary technology so patients can track their symptoms on mobile phones.
Beyond clinical trials Exco InTouch plans to use its mobile technology for patient education and treatment compliance.