Great Point Partners Completes Growth Recapitalization of Alliance Biomedical Research
GREENWICH, CT and GREENVILLE, SC (PRWEB) September 21, 2016 -- Great Point Partners (“GPP”) today announced a growth recapitalization of Alliance Biomedical Research (“ABR” or the “Company”). ABR is a leading clinical trial research site business focused on Phase II – IV clinical trials with 11 locations throughout the Southeastern U.S. ABR was founded in 2004 by Dr. Greg Feldman, Dr. Joe Boscia, Anna Buice, Steve Clemons and Haley Williams and has organically grown its footprint from a single location to 11 sites over the last 12 years. Pharmaceutical or biotechnology companies or Clinical Research Organizations hire ABR to work on a clinical study, create operational workflows that comply with protocol requirements, recruit qualified patients to test the study drug, monitor the drug’s effects, adhere to tight regulatory standards, and report their findings to the client.
“ABR has an unparalleled track record of meeting or exceeding patient enrollment targets in clinical trials addressing one of the leading causes of trial delays,” said Stephen J. Weaver, Vice President of Great Point Partners. “Our investment in and partnership with ABR will enable the Company to further improve its infrastructure and execute on an accelerated growth strategy of de novo facility expansion and tuck-in acquisitions. The clinical research site sector is highly fragmented and falls squarely within the outsourced pharmaceutical services vertical, a core area of focus for GPP.”
“We founded ABR with the vision to become the leading clinical research site company and substantially improve the efficiency of the clinical trial process,” said Dr. Greg Feldman, Founding Principal of ABR. “We were impressed with GPP’s prior investment experience in outsourced pharmaceutical services, the robust acquisition pipeline they had developed prior to our first meeting and their deep industry knowledge. We have an exceptional team at ABR and are excited to partner with GPP to accelerate growth and work towards our original vision.”
“ABR is a compelling opportunity to invest in a leader in the market of clinical trial site management,” added Adam B. Dolder, Managing Director at Great Point Partners. He concluded by saying, “The Company has a proven track record in clinical trial execution and importantly, patient recruitment and enrollment, a key differentiator in the marketplace and the ‘holy grail’ in the pace of a clinical trial.”
Mr. Jim Petrilla, Founder of BioAgilytix, will serve as CEO while Mr. Richard Vaillant, former CFO of GPP I portfolio company Cytovance Biologics, will serve as CFO of the Company.
About Great Point Partners
Great Point Partners ("GPP"), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $900 million of assets under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP II, which has closed on $215 million. Great Point manages capital in private (GPP I, $156 million and GPP II) and public (BioMedical Value Fund, approximately $500 million) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, services, outsourcing, pharmaceutical infrastructure and information technology. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or http://www.gppfunds.com.
About Alliance Biomedical Research Holdings, LLC.
Alliance Biomedical Research (“ABR”) was founded in 2004 and has since become a leading dedicated clinical research site business with 11 locations in the Southeastern U.S. Headquartered in Greenville, SC, ABR’s model is an effective method of research operations and management that consistently exceeds sponsor and FDA expectations during all quality audits while consistently ranking in the top 10% in global enrollment. The clustering of sites provides the opportunity for inter-site cross training, idea exchange, and standardization of operating procedures. With over ten years of shared experiences the company has developed best practices which continue to be the foundations of its successful U.S. operations. Learn more at http://www.alliancebiomedical.com/.
David Lowe, Great Point Partners, http://www.gppfunds.com, +1 (203) 742-9246, [email protected]
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