News Feed Item

4G Clinical, A Clinical Trials Software Company, Raises $5 Million In Series A1 Financing Led By Schooner Capital

Investment Brings 4G Clinical Series A Funding to $7.5 Million for 2016

WELLESLEY, Mass., Oct. 19, 2016 /PRNewswire/ -- 4G Clinical, a clinical trials software company focused on simplifying and accelerating the drug development process, said today that it has raised $5 million in Series A1 financing led by Boston-based Schooner Capital.  Combined with $2.5 million that was announced in January, this latest round of financing brings 4G's Series A funding total to $7.5 million.  The additional funding will be used to support company operations, further product development and support early marketing of Prancer, the company's fourth generation Randomization and Trial Supply Management (RTSM) offering. 

"Built by industry veterans, Prancer is the first RTSM system to leverage both a modern stack and the intelligence of natural language processing," said Ted Henderson, a managing director at Schooner Capital. "The speed and flexibility of this platform, including more intuitive interfaces and robust forecasting capability, is extremely valuable in the arena of drug development."

4G Clinical co-founder and CTO Ed Tourtellotte created the first parameter-based RTSM system in the world, as well as the industry-leading clinical supply forecasting tool, tcVisualize. COO Christine Hurley is a globally recognized expert in RTSM operations with nearly 20 years in the biopharmaceutical industry. Additionally, Head of Engineering Cédric Druck developed the CT-FAST simulation and optimization platform for clinical supplies management. Tourtellotte and CEO David Kelleher have both previously founded and run successful businesses.

"We have had a deep level of engagement with industry stakeholders as we have developed Prancer," said Ed Tourtellotte.  "This engagement process has helped us stay abreast of emerging needs, ensure all bases are covered, and innovate against customer pain points."

"We are thrilled to have Schooner as a partner," added CEO David Kelleher.  "Their early funding helped us build a world class team of innovators, starting from a handful of people in January to a current staff of 24, with technical and industry experts in the U.S. and Europe. These assets are the foundation of an integrated, global level of client service."

About Randomization and Trial Supply Management (RTSM) Systems

Randomization and Trial Supply Management (RTSM) software systems (sometimes referred to as IRT, IVR or IWR) play a critical role in most modern clinical trials. Specifically, these systems and services facilitate the complex work of assigning patients to treatment groups, managing clinical supply, and dispensing medicines used in trials.

About the e-Clinical Marketplace

Total global biopharmaceutical R&D spending has been estimated at around $127 billion and growing, with late-stage Clinical R&D accounting for about 20% of that total cost.  The overall clinical trials marketplace is also generally accepted to be stable or growing. ClinicalTrials.gov, which includes an estimated 75% of clinical trials globally, shows a steadily increasing number of new clinical trials registered year-over-year for the last two decades.  In the past 10 years, there has been an average of nearly 17,000 new registered trials annually, with numbers in the last 5 years being consistently higher – between 20,000 and 24,000.  Already in 2016, there are more than 20,000 new clinical trials registered. 

In February of 2016, market research and consulting firm, M&M (www.marketsandmarkets.com) shared their prediction that the eClinical Solutions market – including randomization and trial supply management (RTSM), as well as clinical data management systems (CDMS)/electronic data capture (EDC), clinical trial management systems (CTMS), electronic clinical outcome assessment (eCOA) -- will reach USD 5.98 Billion by 2020, at CAGR of 12.1% from 2015 to 2020. The company cited "growing adoption of software solutions during clinical trials" as one factor contributing to this growth, along with increasing research and development expenditure by pharmaceutical companies, growing government grants to support clinical trials, and rising customer base.  This report cited North America as the largest market sector, but noted that Asia/Pacific is projected to be the fastest growing region.

About 4G Clinical

4G Clinical is a full service RTSM company focused on simplifying and accelerating the drug development process.  The company was founded in October, 2015, to develop a service offering centered around a 4th generation Randomization and Trial Supply Management (RTSM) system, Prancer.  Headquartered in the heart of the Boston biotech corridor, in Wellesley, MA, 4G Clinical has facilities and staff located in the U.S. and Europe, and is poised to offer global expertise and advisory services to pharmaceutical companies and contract research organizations. For more information, visit www.4gclinical.com.

About Schooner Capital

Founded in 1971, Schooner Capital is a Boston-based private investment firm engaged in venture capital, growth equity and alternative asset investments. Schooner has no outside limited partners and approaches all investments with a long-term perspective.  For more information, visit www.schoonercapital.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/4g-clinical-a-clinical-trials-software-company-raises-5-million-in-series-a1-financing-led-by-schooner-capital-300347552.html

SOURCE 4G Clinical

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.