Derbyshire, United Kingdom-based company which specializes in clinical trial sites, VCTC Limited, received investment from SPRIM Global Investment. SPRIM is a leading health sciences investment firm based in Singapore. The company announced the investment on May 26, 2023. However, it did not disclose the amount of the funding received.
As a part of the transaction, VCTC continues to operate as a separate business under the existing leadership of co-founders Helen Shaw and Daniel Henley. In addition, Thomas Fratacci and Susan Dallabrida, PhD, joined the VCTC board.
Purpose of investment by VCTC Limited
With the latest capital injection from SPRIM Global Investments, VCTC Limited gets to expedite growth through the expansion of services. It further looks forward to access to wider cross-portfolio opportunities.
On the other hand, the investment in VCTC is part of SPRIM’s strategy to build a portfolio of R&D services and digital technology companies. The latter seeks to address the pain points that biotech, medtech, and CRO companies experience across the different clinical stages of drug and device development.
What the VCTC Limited official has to comment
Daniel Henley, co-founder of VCTC, said, “We are delighted to forge this synergistic partnership with SPRIM. This collaboration offers VCTC access to a family of strategically aligned organizations. It further enables us to accelerate the growth of our company. This collaboration takes us into the next stage of development, and our clients will benefit from a broad range of services to complement our current offering.”
What the SPRIM Global Investments official has to add
Thomas Fratacci, SPRIM’s Chief Financial Officer, further added, “VCTC has built a unique competency in patient-centric clinical trial deployment in the UK. This investment complements our existing ecosystem of digital, tech-enabled services. SPRIM is excited to contribute to the company’s strategic development.”
About VCTC Limited
Helen Shaw and Daniel Henley launched the company in 2022. VCTC is the UK’s first truly virtual clinical trial site dedicated to delivering virtual and decentralized clinical trials, as well more traditional trials, in collaboration with NHS partners. VCTC eliminates the burden of clinical trial participation as well as facilitates the rapid recruitment of patients. VCTC’s novel and pioneering virtual trial process expedites the generation of rich and diverse clinical trial data sets by bringing clinical trials to participants and providing compassionate in-home support.
VCTC’s virtual and decentralized capabilities in the United Kingdom provide high-quality, cost-effective solutions that increase patient access to clinical trials and thus speed the development of life-changing medicines.
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