Clinverse, has completed a series A financing of USD2.2m to assist its development of ClinPay, the pharmaceutical industry’s first eClinical trial payment network.
The investment syndicate comprised current investors and Vital Financial.
Umair Akeel has joined Clinverse as its chief technology officer. Akeel was an inventor and the chief architect during the development of IBM’s InfoSphere Traceability Server.
Clinverse president Steve Ayala says: “We are pleased to have rounded out our investment with significant funding from Vital Financial. Not only is Vital adding to our capital base, but they also are contributing their team’s experience in growing successful software companies. In conjunction with the funding, we are glad to welcome Craig Asher from Vital to our board.”
Craig Asher, a principal at Vital Financial, says: “We look forward to supporting Clinverse through its growth with our capital and our background in building successful software companies. We see a significant potential to improve clinical trials by reducing their cost and duration and by improving their reporting transparency with the ClinPay eClinical Trial Payment Network.”
