Startup Florida Completes Private Equity Investment in Clinipace

North Carolina based Clinical Research Software Provider becomes Third Portfolio Company

SARASOTA, FL (PRWEB) July 26, 2005 --- Startup Florida, an early stage investment fund for hi-tech companies, today announced the closing of a new investment in Clinipace, a clinical research software company located in the Research Triangle Park, North Carolina. The companys products support late-stage clinical research studies and registries for the pharmaceutical and academic medical center markets. Terms of the financing were not disclosed.

Were very excited to add Clinipace to our growing portfolio," said Rich Swier, Managing Partner of Startup Florida. We see great opportunity in the convergence of life sciences and information technology, and Clinipace has successfully demonstrated how comprehensive web-based applications can make conducting and managing clinical research more efficient and cost-effective."

Clinipace offers a hosted software solution that supports the collection and management of clinical research data, and manages project logistics for pharmaceutical companies, academic medical centers and clinical research organizations. The technology was developed in conjunction with the University of Florida (UF), and licensed from the UF Office of Technology Licensing (OTL).

Startup Florida is a very savvy and decisive venture group. Their no-nonsense approach is refreshing, and their strong operational experience is attractive in an investment partner," said Jeff Williams, Chief Executive Officer of Clinipace. They understand the hurdles faced by entrepreneurs, having been there themselves, and are willing to roll up their sleeves and lend their experience as needed."

Clinipace, which has a development team in Gainesville, joins previous Startup Florida investments Highwall Technologies and Real Digital Media, both of which remain located in Sarasota, Florida.

As part of the funding arrangement, Jason Broom, Managing Partner of Startup Florida, will join the Board of Directors of Clinipace.

About Startup Florida

Startup Florida promotes the creation and acceleration of technology businesses by providing capital, mentoring and a supportive community for entrepreneurs. Our early-stage venture funds serve to connect entrepreneurs with active angel investors throughout the State of Florida. For more information, please visit www.startupflorida.com.

About Clinipace

Clinipace is a private software company providing solutions that support clinical research projects for biopharmaceutical and medical device companies, and academic medical centers. Tempo -- Clinipaces web-based flagship product -- enables the efficient collection and management of study data while integrating critical workflows, including investigator training, monitoring and randomization within a single platform. Clinipace has received patents on several aspects of this platform including the integrated web-based randomization engine.

For more information on Clinipace, please visit: www.clinipace.com

Media Contact:

Jason Broom

941.928.3890

# # #