Scotland-based Clinpal recently raised CHF 2.4 million in a financing round led by former Novartis and Credit Suisse CIO Karl Landert. investiere facilitated investments to the tune of CHF 737’000 and helped Clinpal secure funding from smart money investors with ties to the pharmaceutical and healthcare industry in Switzerland.
Clinpal is a cloud-computing platform for patient recruitment, engagement, retention and data acquisition in clinical studies. The online platform connects sponsors (mainly pharma companies), sites (mainly clinics) and patients throughout the process of clinical trials. Three of Clinpal's initial clients are among the top 10 global pharmaceutical companies and Clinpal is well on its way to achieving close to GBP 1 million in revenues in 2014. The company intends to use the funds raised to develop new features to better meet client needs and expand internationally in this large and growing market; alone in the United States, USD 35 billion is spent yearly on clinical trials.
Within only two weeks, the investiere community indicated a strong investment interest already covering more than 70% of the final sum raised on the investiere platform. Furthermore, investiere played an important role in defining the investment terms and coordinating the entire financing round with investors participating from across the globe including Switzerland, UK, Singapore and Germany. "We were pleasantly surprised with the reach of the investiere platform and the efficient and effective process which led to a successful round in a very short timeframe. This is a great achievement considering that we are the first UK-based company on the platform,” states Karl Landert, the lead investor and chairman of eClinicalHealth Ltd, the company behind Clinpal.
“The amount we raised through investiere exceeded our expectations by more than double of the objective we had initially foreseen,” Landert goes on to explain. "Moreover, we experienced a very professional due diligence process which was beneficial for the company as well as for the proprietary investors.“
“While we will continue to focus on Swiss deals,” investiere CEO and co-founder Steffen Wagner explains, “Clinpal has shown that our investors appreciate the opportunity to further extend their investment diversification possibilities not only across industries and stages, but also geographically.”