Vitruvian Acquires Majority Shareholding in Phlexglobal from Bridgepoint
Phlexglobal, the world-renowned thought leaders and specialists in the provision of electronic Trial Master File (eTMF) systems and services to the life sciences industry, today announced a significant investment by funds managed by Vitruvian Partners (“Vitruvian”). The transaction establishes Vitruvian as majority shareholder of Phlexglobal, while previous majority investor Bridgepoint Development Capital (“BDC”) will exit the company.
BDC has been a supportive partner to Phlexglobal since 2014. The new ownership will enable Phlexglobal to expand the global footprint of its industry-leading service offering and PhlexEview4 technology platform, in order to build on the Company’s premier position in a fast-growing market.
Rick Riegel, Chief Executive Officer of Phlexglobal, commented:
“The Trial Master File is at the center of the clinical trial workflow and crucial to managing increasing regulatory scrutiny. We expect growth across all aspects of the business as pharmaceutical sponsors recognize the advantages of both quality and efficiency in their TMF processes, thereby drawing increasingly on specialist TMF technology and service providers. We have enjoyed significant growth under BDC’s ownership, extended our customer and operational base and relaunched PhlexEview, our eTMF platform. As we seek to continue to strengthen and extend our market-leading customer proposition, the investment from Vitruvian allows us to accelerate our plans and further enhance the depth and breadth of our technology and service offerings.”
Philip Russmeyer, a Partner at Vitruvian, added:
“Vitruvian is delighted to invest in Phlexglobal at a time of continued rapid market growth for eTMF services and technology providers, and following the highly successful launch of the PhlexEview4 platform. Our investment will allow the company to build on this success and to accelerate growth both organically and inorganically by further leveraging its unique full-service technology-enabled proposition. We are very pleased to partner with Phlexglobal’s outstanding management team and look forward to jointly driving the next phase of the company’s global development.”
Alan Payne, a partner of Bridgepoint Development Capital, said:
“As the outsourced pharmaceutical industry has grown on the back of increased R&D spend and more complex regulation, so too has Phlexglobal expanded with new technology and services. By extending its reach to customers the company is now well placed to accelerate development further under new ownership.”
Notes to Editors
For further information on Phlexglobal, please visit http://www.phlexglobal.com
Phlexglobal is a leading provider of Trial Master File (TMF) solutions for global clinical trials, and has been central to the maturation of the TMF across the industry through participation in the creation of the TMF Reference Model. With approximately 70 active clients including 26 of the top 50 pharmaceutical companies, Phlexglobal is recognized as the predominant global TMF specialist in the market.
The company’s cloud-based, fully configurable PhlexEview eTMF platform supports the company’s full service offerings including TMF Processing, Quality Control, Re-mapping, Archiving and a wide range of consultancy services. Phlexglobal operates from five offices, across the US, the UK and Poland.
The company and previous shareholders including Bridgepoint Development Capital were advised by Baird, Travers Smith, CIL, EY and Intuitus. The management team was further advised by Liberty Corporate Finance, BDO, Fox Rothschild and Shoosmiths.
About Vitruvian Partners
Vitruvian is an independent private equity firm which specializes in growth middle-market investments. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, life sciences & healthcare, media, and financial, business and consumer services. Vitruvian is currently investing the Vitruvian Investment Partnership II, which closed in December 2013 at its self-imposed cap of £1 billion. The firm’s previous investments in the technology and healthcare sectors include CRF Health, Just Eat, Snow Software, Callcredit Information Group and Healthcare at Home.
Vitruvian was advised by BDO, Kirkland & Ellis, Marlborough Partners, PwC, KPMG, Bearing Point, Marsh and Wardynski.
About Bridgepoint Development Capital
Bridgepoint Development Capital (‘BDC’) provides funding to businesses headquartered in France, the Nordic region and the UK, typically buyouts valued up to £150 million. BDC has a team of 26 investment professionals wholly dedicated to its investment activity and operating from offices in London, Paris and Stockholm. It is part of Bridgepoint, the international private equity group, which invests in businesses valued between €20 million and €1 billion from a network of offices in Frankfurt, Istanbul, London, Madrid, New York, Paris, Shanghai, Stockholm and Warsaw. BDC is currently investing BDC III, a £600 million fund focused on investments in fast growing businesses in Europe valued up to £150 million.
Gillian Gittens, Head of Marketing
Tel: +44 149 472 0420
Tel: +44 207 457 2005
Tel: +44 207 034 3555
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Philip Morris International Releases Latest Scientific Update for Smoke-Free Products on Clinical Program12.12.2017 15:23 | Pressemelding
Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) today released its latest Scientific Update for Smoke-Free Products, a regular publication on its research efforts to develop and assess a range of smoke-free alternatives to cigarettes. The latest issue of the Scientific Update can be found at this link. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171212005891/en/ Philip Morris International Releases Latest Scientific Update for Smoke-Free Products on Clinical Program (Photo: Business Wire) This issue of the Scientific Update provides a closer look at some of the principles and practices on which PMI’s scientific assessment program is built. Director Medical Affairs Dr. Patrick Picavet describes specific examples from PMI’s clinical program that highlight the company’s
Murex to Offer MX.3 Risk, Trading and Post-Trade Solutions on the AWS Cloud12.12.2017 14:00 | Pressemelding
Murex, an industry leader in trading, risk management and processing solutions for capital markets, announced they will run their MX.3 technology platform on Amazon Web Services, Inc. (AWS). With the acceleration of cloud adoption in capital markets, Murex and AWS agreed to collaborate to help clients migrate their Murex application workloads to the AWS Cloud. Murex clients are looking to consolidate more and more of their capital markets activity on the MX.3 platform and this means their need for infrastructure is increasing. New regulatory requirements are also driving financial organizations to use cloud to scale up their computing capacity. Murex is collaborating with AWS to meet the demand from clients to support deployment of the Murex offering on the AWS Cloud. Murex is working on the validation of a range of deployment scenarios, from using AWS Cloud for bursting grid
Darzalex®▼(daratumumab) Combination Regimen Significantly Improved Outcomes for Newly Diagnosed Multiple Myeloma Patients who are Transplant Ineligible12.12.2017 13:33 | Pressemelding
Janssen-Cilag International NV (“Janssen”) today announced data from the Phase 3 ALCYONE study, showing Darzalex® (daratumumab) in combination with bortezomib, melphalan and prednisone (VMP) significantly improved clinical outcomes, including reducing the risk of disease progression or death by 50 percent, in patients with newly diagnosed multiple myeloma who are ineligible for autologous stem cell transplantation (ASCT).1 These data were accepted as a late-breaking abstract (LBA) for presentation at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta, today at 7:30 a.m. ET (Abstract #LBA-4).1 Study findings were simultaneously published in the New England Journal of Medicine (NEJM) . 2 Daratumumab is currently indicated for use in combination with lenalidomide and dexamethasone, or bortezomib and dexamethasone, for
CTS Engines Announces Senior Management Hire12.12.2017 13:00 | Pressemelding
CTS Engines, the global leader for mature jet engine maintenance, announced today that it had hired Diane E. Cavuoto as Senior Vice President, Supply Chain, in an effort to continue to provide its customers with outstanding engine overhaul services. Ms. Cavuoto will be based in CTS’s Ft. Lauderdale headquarters and will report directly to Vesa Paukkeri, CTS’s President and Chief Operating Officer. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171212005050/en/ Diane E. Cavuoto, Senior Vice President, Supply Chain, for CTS Engines (Photo: Business Wire) Ms. Cavuoto, most recently Vice President, Strategic Sourcing at Honeywell International, brings years of supply chain management experience to CTS. In her prior role at Honeywell, Ms. Cavuoto managed a global commodity team of 150 employees managing $4
MIPI Alliance Opens Access to its MIPI I3C Sensor Interface Specification12.12.2017 13:00 | Pressemelding
The MIPI® Alliance, an international organization that develops interface specifications for mobile and mobile-influenced industries, today announced it is opening access to its sensor interface specification, MIPI I3C. Starting today, all companies, including those not currently members of MIPI Alliance, may access the MIPI I3C v1.0 specification so they may evaluate the incorporation of the specification into their sensor integration plans and design applications. “MIPI I3C provides a welcome update to the I2C technology that has been widely adopted over the past 35 years. Extending access provides an opportunity to spur innovation and help other industries beyond mobile," said Joel Huloux, chairman of MIPI Alliance. "It helps MIPI members as well, because it supports greater adoption and interoperability, strengthens the ecosystem and provides for a richer
ADC Therapeutics Announces Interim Phase I Data from its Novel Antibody-Drug Conjugate ADCT-30112.12.2017 11:23 | Pressemelding
ADC Therapeutics (ADCT), an oncology drug discovery and development company that specializes in the development of proprietary Antibody Drug Conjugates (ADCs) targeting major cancers, today announced clinical data from two ongoing Phase I clinical trials evaluating ADCT-301 (camidanlumab tesirine or “Cami-T”) in important subtypes of lymphoma and leukemia. The data were presented at the 59th American Society of Hematology (ASH) Annual Meeting in Atlanta, USA. 1. Interim results of a Phase I open label, single agent, dose-escalating study of ADCT-301 evaluating tolerability, safety, pharmacokinetics and efficacy in patients with relapsed or refractory B-cell Hodgkin’s or non-Hodgkin’s lymphoma Dr. Steven M. Horwitz, Medical Oncologist at Memorial Sloan Kettering Cancer Center in New York City, and Principal Investigator, s
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom