(MENAFN- PR Newswire) SINGAPORE, May 26, 2023 /PRNewswire/ -- SPRIM Global Investments (SPRIM), a leading health sciences investment firm, completed an equity investment in VCTC Limited, a UK-based specialist clinical trial site. SPRIM funding will enable VCTC to expedite growth through expansion of services and access to wider cross-portfolio opportunities.
This investment is part of SPRIM's strategy to build a portfolio of R&D services and digital technology companies to address the pain points that biotech, medtech, and CRO companies experience across the different clinical stages of drug and device development. VCTC's virtual and decentralized capabilities in the United Kingdom provide high-quality, cost-effective solutions that increase patient access to clinical trials and thus speed the development of life-changing medicines.
"We are delighted to forge this synergistic partnership with SPRIM.
This collaboration offers VCTC access to a family of strategically aligned organisations, enabling us to accelerate the growth of our company," said Daniel Henley, co-founder of VCTC. "This collaboration takes us into the next stage of development and our clients will benefit from a broad range of services to complement our current offering."
Thomas Fratacci, SPRIM's CFO, adds, "VCTC has built a unique competency in patient-centric clinical trial deployment in the UK. This investment complements our existing ecosystem of digital, tech-enabled services. SPRIM is excited to contribute to the company's strategic development."
VCTC will continue to operate as a separate business under the existing leadership of
co-founders Helen Shaw and Daniel Henley, with Thomas Fratacci and Susan Dallabrida, PhD, joining the VCTC board.
About SPRIM Global Investments (SGI)
SPRIM Global Investments (SGI) is a leading health sciences investment firm with deep industry expertise and decades of operating experience across 17 countries. SGI invests in biotechnology, digital clinical trial solutions, and R&D service companies to commercialize the newest technologies and accelerate innovations that are the future of health around the world.
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VCTC is the UK's first truly virtual clinical trial site dedicated to delivering virtual and decentralized clinical trials, as well more traditional trials in collaboration with our NHS partners. VCTC eliminates the burden of clinical trial participation and facilitates the rapid recruitment of patients. VCTC's novel and pioneering virtual trial process expedites the generation of rich and diverse clinical trial data sets by bringing clinical trials to participants and providing compassionate in-home support.
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SOURCE SPRIM Global Investments
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