January 19, 2016
Tag(s): Press Releases
January 19, 2016
4G Clinical Raises $2.5M in Series A Funding
BOSTON, Jan. 19, 2016 /PRNewswire-iReach/ -- 4G Clinical, a next-generation Randomization and Trial Supply Management company supporting global Phase 2 and 3 clinical trials, today announced it has secured a $2.5 Million Series A round led by Boston-based Schooner Capital.
4G Clinical will use the funds to build out its business and technology offering, to continue to recruit top talent, and to promote the 4G Clinical brand at industry conferences such as the US and European CBI IRT conferences, and at it's own private pre-customer event in the spring 2016.
"We were impressed with the passion, dedication and experience of the 4G Clinical team," said Ted Henderson, a managing director at Schooner Capital. "The company addresses a critical but underserved area of clinical trials, and we believe that 4G's innovation, drive, and strong team will bring positive change to the biopharmaceutical industry."
"We couldn't be happier to have a partner like Schooner Capital," said Dave Kelleher, 4G Clinical CEO. "Schooner invests for the long term, they are very mission-focused, and they are committed to helping us succeed."
"Everyone on our team is excited about this opportunity," said Ed Tourtellotte, 4G Clinical CTO. "We're building a true 4th generation RTSM to support a critical aspect of most phase 2 and 3 clinical trials. With Schooner on board, we are in a good position to achieve our mission.
"Our founders have deep, personal reasons to accelerate the process by which new drugs can reach the people who need them," Ed continued. "Our core mission, above all else, is to make this happen."
Dave Kelleher, 4G Clinical
Ed Tourtellotte, 4G Clinical CTO was the founder of Tourtellotte Solutions, a clinical trials consulting and technology company (acquired by Bioclinica). Ed designed and built the world’s first configurable IRT in 2000, and also designed the clinical trial supply simulator tcVisualize as well as Trident IWR.