Private vendor qualification and risk management organisation Diligent Pharma Inc, has announced the closing of an $8.27 million (£6.6 million) Series A financing round led by FCA Venture Partners.
Additional investors include PJC and GenHenn Capital along with private investors who have held executive leadership roles in the pharmaceutical industry.
The funding round will support the company’s scaling of its data and content strategy.
Diligent Pharma Founder and CEO, Patty Leuchten, said:
“Our vision for Diligent Pharma is to drive speed, higher quality and risk mitigation in clinical trial execution through the centralisation of qualification and vendor management practices and through the harnessing of data and insights.
“I feel fortunate to be partnering with FCA, PJC, GenHenn, and the pharma industry leaders who participated in this investment round.
“Working with our financial partners will enable us to take the Diligent organisation to the next level for the purpose of driving improvements, at scale, for our industry. I couldn’t be more excited.”
Diligent Pharma offers a centralised technology platform for streamlining vendor qualification in clinical trial execution.
The company aims to transform the current approach to identifying and qualifying clinical trial vendors and is driving innovation while mitigating risks and addressing the need for speed and high quality in the process.
Todd Johnson, Partner at FCA Venture Partners, said:
“FCA Venture Partners is committed to supporting innovative healthcare and clinical trial technology companies that are poised to deliver significant value through a breakthrough solution.
“Diligent Pharma fits that mould.
“Their outstanding leadership team, led by Patty Leuchten, has developed a novel approach and powerful tools to allow for a much more efficient process of qualifying and managing clinical trial providers.”