PE investment creates ‘strong foundation’ for growth: Clinical Ink CEO
Yesterday, Clinical Ink announced that a majority of its outstanding shares from existing investors have been acquired by NovaQuest Capital Management, L.L.C., a private equity firm which also “provided a substantial infusion of additional growth capital.”
As part of this, the research institute RTI International has announced a strategic co-investment in Clinical Ink, which also has been provided a flexible credit facility from Silicon Valley Bank.
The deal – financial details of which were not disclosed – provides Clinical Ink with a “strong foundation” to ensure it has “the right capital resources to continue growth,” the company’s CEO Ed Seguine told us.
The deal is a reflection of Clinical Ink’s technology platform, management team, and “strong business model,” Seguine said, adding that it validates the company’s “homegrown potential to go and compete head-on with some of the biggest players in this area.”
The NC-based company’s SureSource platform captures eSource, ePRO, and eCOA data and documents for risk-based monitoring.
“We need to create a better clinical trial experience,” Seguine said. “We’re focused on using our technology the moment that it matters … during the patient visit.”
