Clinical Ink, a provider of eSource solutions has announced a $4.3 million investment from FCA Venture Partners.
“This infusion of funds will allow Clinical Ink to aggressively build the capabilities needed to address the rapidly increasing customer demand for eSource technology in clinical trials,” said Ed Seguine, CEO of Clinical Ink. “Our business has more than doubled in the last year and we will be expanding our management team, development capabilities, and implementation resources to support a wider range of clinical trials globally. Our customers, from large pharma to small biotech, have achieved real productivity gains at a fraction of the cost of current solutions and we will be in a position to continue to support innovative approaches to direct data capture, remote monitoring, and data management.”
Clinical Ink’s award-winning eSource platform, SureSource®, is the industry’s first application to mimic the familiar look, feel and usability of a paper chart. Designed to capture clinical trial data during the subject visit on a tablet PC instead of paper, as opposed to EDC systems, this direct approach provides cleaner data, faster and eliminates the time-consuming monitoring process of source data verification.
“We believe Clinical Ink will change the dynamics of the clinical technology and services market,” said Matthew King, Managing Partner of FCA Venture Partners. “Clinical Ink’s vision of a more streamlined approach to clinical trials has already demonstrated tangible benefits as compared to the traditional EDC approach to capturing data. The company has benefited from increased regulatory certainty around eSource and Risk-Based Monitoring as well as from their license of the DataSci patent that raised so much concern among early EDC adopters. Clinical Ink is a great fit with FCA Venture Partners’ long-term growth strategy and we are pleased to work with Ed Seguine and Doug Pierce to realize their future vision.” Mr. King has also joined Clinical Ink’s Board of Directors.
The investment comes from FCA Venture Partners fifth fund, FCA Venture Partners V, L.P. (“FCA V”), which has a focus on companies in this early stage to growth equity phase.