TrialScope, a Jersey City-based global leader in clinical trial transparency and compliance, raised more than $10m in financing.
The round was led by Edison Ventures, which invested $5.5m, with participation from Dublin Capital Partners and NewSpring Capital. In conjunction with the funding, Edison Director Network member, James C. Walker, founder of Octagon Research (an Edison Ventures portfolio company), and Michael Balmuth joined TrialScope’s board of directors.
The company is using the funds to finance the acquisition of substantially all Deloitte Analytics LLC assets, including the PharmaCM business, which provides technology solutions for clinical trial registration and transparency. PharmaCM is a content management platform addressing the registry and lifecycle challenges facing life sciences companies. The acquisition includes key personnel of the PharmaCM team.
Led by Mike Forgash, CEO, TrialScope provides tools and systems for customers to improve their clinical trial process, mitigate registry and lifecycle risk.