Tuesday, September 27, 2011
Clinipace Worldwide has closed a $15M Series C round of funding led by Morgan Stanley Expansion Capital of San Francisco, CA. Existing investors, including Hatteras Venture Partners of Durham, NC, and Brook Private Equity Advisors of Boston, MA, also participated in this most recent round of funding.
Clinipace Worldwide plans to use the capital to continue building its therapeutic expertise and global capacity to deliver innovative technology-amplified contract research services.
“Clinipace is an innovative company with a strong management team and a clear vision. When we looked at the successful adoption of its service model, combined with the robust and active segment which it serves, as well as overall macro-trends in life science R&D strategies, we realized now is the perfect time for Morgan Stanley Expansion Capital to support Clinipace’s efforts to strengthen its technology leadership, therapeutic expertise, and global reach,” said Melissa Daniels, managing principal, Morgan Stanley Expansion Capital.