Private equity interest in the booming contract research sector continues to build, as Inclinix, an enrolment contract research organisation (CRO) based in Wilmington, US, announced it has closed $10 million in expansion funding from Frontier Capital.
Based, like Inclinix, in North Carolina, Frontier Capital provides growth equity to business services companies in the US southeast and mid-Atlantic regions that “have a proven solution in the marketplace and need capital to accelerate growth, make acquisitions or generate shareholder liquidity”.
Inclinix will use the $10 million investment to further enhance its proprietary patient enrolment processes and technologies. The company will also add sales, marketing and service delivery resources as well as expanding its corporate facilities.
“Inclinix has grown 40% annually the past three years and sought capital to better serve our customers and accelerate our expansion,” noted president and chief executive officer J Tobin Geatz. “We will continue to provide industry-leading enrolment services and technologies to some of the world’s largest pharmaceutical, biopharmaceutical and medical device companies on a global basis.”
Founded in 1999, Inclinix was known as PharmaTech Solutions (PTS) until June 2006, when it changed its name following a merger with Realinterface Expert Systems (RESI) of Annapolis, Maryland, integrating PTS’ recruitment services and RESI’s patient screening technology platform (which included the clinical trial recruiting and management application InClinix).
The combined company’s service offering includes enrolment feasibility, investigator recruitment, site support, and patient recruitment, retention and monitoring through its enrolment clinical research associates.
