Velocity Fund Partners has acquired the Philadelphia clinical contract research organisation (CRO) Indipharm and is relaunching the CRO as InClinica. Financial terms of the deal have not been disclosed.
Velocity Fund Partners targets promising life sciences opportunities and believes InClinica is well-positioned for growth.
“InClinica’s existing global footprint and experience in early drug and device development and clinical trials, combined with Velocity’s unique experience and contacts in both healthcare and life sciences, will enable InClinica to provide companies with significant value in all clinical phases,” says Ken Melani, Managing Partner of Velocity Fund Partners and Chairman of InClinica.
InClinica specialises in leading companies through clinical trials. It works across all phases of clinical development, with a particular strength in assisting small to mid-sized companies entering first in man and phase two studies.
“We’re thrilled to launch and officially begin work as InClinica,” says Jim Nolan, Operating Partner of Velocity Fund Partners and CEO of InClinica. “With our management team’s unique and extensive experience in drug and device discovery and development, InClinica knows what is needed to produce successful clinical trials. We look forward to leading our clients toward regulatory approval and the right place in the market.”
Edward J Brennan, Jr, MD, founder and president of Indipharm, is now Chief Medical Officer of InClinica. Michael Fare will serve as COO and CTO.
