eClinical firm YPrime secures ‘significant’ PE investment

05-Feb-2019 - Last updated on 05-Feb-2019 at 15:19 GMT

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Related tags eclinical Private equity eCOA IRT Data collection YPrime

The cloud-based eClinical solutions company today announced that it has received a significant investment from Flexpoint Ford, a Chicago-based private equity (PE) firm.

Founded in 2006, Malvern, PA-headquartered YPrime provides software solutions and consulting services to support collaborative clinical trial data collection and information management.

The company’s eClinical suite includes electronic clinical outcome assessments (eCOA) and interactive response technology (IRT).

Shawn Blackburn, co-founder and CEO of YPrime, said, “The investment funds will be used to support expansion with our geographic footprint as well as our product and service portfolio.”

YPrime’s current management team will retain a substantial ownership stake and continue to lead the company, which will operate independently.

“It was important for YPrime to find a partner with similar values and vision, and we found that in Flexpoint,” Blackburn told us.

Ballast Point Ventures (BPV), based in Tampa, FL, has backed YPrime since 2013 and will retain a minority stake in the company.