Zug – 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 ten global pharmaceutical companies and Clinpal is well on its way to achieving close to GBP 1 million in revenues in 2014.
Karl Landert heads the company behind Clinpal
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 what 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 elaborates, “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.”
is a community of about 5’000 top investors and industry experts focused on startup companies, as well as being one of Europe’s leading online startup investment platforms. Since 2010, over 20 outstanding startups have used investiere to raise funds from private investors who bring relevant industry expertise and networks. Using the platform, the community itself identifies the most promising investment opportunities which are then further reviewed by experts from the relevant industry. A final selection is made by the investiere team and its partners after a careful due diligence. Once approved by the investiere team, investors can directly choose a specific startup and become a shareholder with all voting and property rights provided by the law. investiere systematically combines private investors with selected lead investors as well as institutional coinvestors. investiere is operated by Verve Capital Partners AG domiciled in Switzerland. www.investiere.ch
Headquartered in Scotland, eClinicalHealth Limited (Clinpal’s developer) was founded in early 2012 and provides innovative clinical trial solutions. The Company is committed to leading open and collaborative innovation discussions about virtual clinical trial processes and technology with pharmaceutical companies, CROs and other service and technology providers. www.clinpal.com