4G Clinical Announces $230MM Growth Equity Investment Backed by Goldman Sachs Asset Management
PR90324
WELLESLEY, Mass. and NEW YORK, June 29, 2021 /PRNewswire=KYODO JBN/--
-- The innovative RTSM leader grew over 100% in 2020, plans to accelerate
global expansion and support critical demand for products and services
4G Clinical, a cutting-edge randomization and trial supply management (RTSM)
company, announced it has entered into an agreement to receive a growth equity
investment of over $230MM from Goldman Sachs Asset Management ("Goldman
Sachs"). The investment will be used to fund 4G Clinical's continued global
expansion, support the growing demand for 4G's products, and to further the
company's mission of bringing crucial medicines to those who need them,
faster.
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4G Clinical was founded in 2015 by seasoned entrepreneurs and RTSM technology
experts, David Kelleher and Ed Tourtellotte, to accelerate clinical trials by
leveraging Natural Language Processing (NLP) to disrupt the way trials are
executed. 4G Clinical's Prancer RTSM(R) enables life sciences companies to
reach First Patient In (FPI) up to 50% faster than other providers and
implement mid-study changes more efficiently. 4G Clinical's clinical supply
optimization solution, 4C Supply(R), incorporates real-time RTSM actuals to
prevent stock-outs and reduce drug waste. Life sciences organizations are also
increasingly shifting to modern eClinical solutions like 4G Clinical's Prancer
RTSM(R) and 4C Supply(R) to address the rising complexity of clinical trials.
To date, 4G Clinical supports clinical trials for over 100 biotech and pharma
clients globally.
"As life sciences companies strive for creativity and innovation in trial
designs, they cannot afford to be limited by technology," said Ed Tourtellotte,
CTO of 4G Clinical. "Our vision was to build Prancer RTSM(R) to handle any type
of trial within any indication. We've held to that vision, enabling our biotech
and pharma clients to let the science lead."
"This investment is transformational," said David Kelleher, CEO of 4G Clinical.
"In just over 5 years, 4G Clinical has grown from a start-up to a globally
recognized leader in RTSM, helping life sciences organizations execute clinical
trials of any size and complexity throughout the drug development lifecycle. To
maximize our impact on lives around the globe, we must unwaveringly drive
innovation in our technology and processes to tackle clinical trial
bottlenecks. This investment from Goldman Sachs ensures that we will not be
constrained in any way in that effort."
"The eClinical Solutions market has expanded rapidly over the past several
years with best-in-class, tech-first solutions leading the way, presenting an
exciting opportunity for Goldman Sachs," said Jason Kreuziger, a Managing
Director in Goldman Sachs Asset Management. "4G Clinical's established
reputation and global reach to date underscores their immense potential over
the next few years. We are honored to partner with and help 4G Clinical
accelerate their growth," added Antoine Munfa, a Managing Director in Goldman
Sachs Asset Management.
For more information about 4G Clinical, as well as its products and services,
please visit: https://www.4gclinical.co.jp/ja/home.
About 4G Clinical
4G Clinical is a global leader in randomization and trial supply management
(RTSM) and supply forecasting optimization software for the life sciences
industry, offering the only fully cloud-based, 100% configurable and flexible
solution utilizing natural language processing (NLP) to accelerate clinical
trials. 4G Clinical is headquartered in the Boston Biotech corridor of
Wellesley, MA, with offices in Europe and Asia. Learn more at
www.4gclinical.com.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset
Management provides clients around the world with a dedicated partnership and
focus on long-term performance. As the primary investing area within Goldman
Sachs (NYSE: GS), we deliver investment and advisory services for the world's
leading institutions, financial advisors and individuals, drawing from our
deeply connected global network and tailored expert insights, across every
region and market--overseeing more than $2 trillion in assets under supervision
worldwide as of March 31, 2021. Driven by a passion for our clients'
performance, we seek to build long-term relationships based on conviction,
sustainable outcomes, and shared success over time. Follow us on LinkedIn (
).
For more information, please contact: 4gclinical@luminapr.com
SOURCE: 4G Clinical
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