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The innovative RTSM leader grew over 100% in 2020, plans to accelerate global expansion and support critical demand for products and services
WELLESLEY, Mass. and NEW YORK, June 29, 2021 /PRNewswire/ -- 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.
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Ⓡ 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Ⓡ, 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Ⓡ and 4C SupplyⓇ 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Ⓡ 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.com/about.
