eClinical Solutions Announces Growth Investment to Further Its Mission of Helping Bring Treatments to Patients Faster

Majority investment will help enable eClinical to advance the future of digital trials via continued enhancements to its leading AI-powered data products and biometrics services

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BOSTON – eClinical Solutions LLC, a global provider of digital clinical software and services, today announced that GI Partners, a private investment firm, has made a majority investment in the company. This affirms eClinical Solutions’ position as a trusted partner for large, mid-size, and emerging life science organizations looking to accelerate research and drive tomorrow’s therapeutic breakthroughs amid growing trial complexity. Additionally, this agreement demonstrates GI Partners’ commitment to investing in growth-oriented businesses that drive innovation in mission-critical sectors like the life sciences. Financial terms of the private transaction were not disclosed.

Headquartered in the Boston metropolitan area, one of the nation’s leading pharma and biotech innovation hubs, eClinical Solutions has been creating technology to help solve the market’s growing clinical data challenges since its founding in 2012. The company’s elluminate Clinical Data Cloud® SaaS platform is designed to optimize data flows, accelerate cycle times and increase productivity to future proof clinical trials for clients. Recognized as a leader in the data infrastructure and analytics category, eClinical works with 16 of the Top 50 biopharmaceutical companies, helping them unlock the value of their data with a modern infrastructure.

“When we founded eClinical over a decade ago, clinical data volume and complexity were beginning to escalate rapidly. To improve trial efficiency and help pharmaceutical companies keep up with the mounting pressure to shorten timelines, we had a vision to create frictionless data flows enabled by cloud and digital platforms,” said Raj Indupuri, co-founder and CEO of eClinical Solutions, who will continue to lead the company along with the current management team. “A lot has changed over the years, but our mission hasn’t. We are helping our clients get treatments to patients faster by providing them with a data infrastructure and analytics foundation that powers critical efficiencies across the R&D lifecycle. GI’s support will help fuel the next phase of our company’s journey, as we look to deepen our product roadmap, extend embedded AI capabilities, and help drive future-ready trials.”

“We’re incredibly proud of the organization we’ve built and are excited to partner with GI Partners as we embark on this next chapter of growth,” added Bob Arnesen, co-founder and president of eClinical. “GI’s track record in scaling biopharmaceutical technology businesses and their deep understanding of our market will ensure we can execute our strategy of reliably delivering value to our clients and partners."

“Raj, Bob and their team have built an exceptional business and an industry-leading platform empowering faster, informed decision-making in clinical trials,” said Dave Kreter, managing director at GI Partners. “As data management and analytics needs within life sciences have continued to evolve, it has become apparent that trial digitization is critical for successful therapeutic and patient outcomes. We feel eClinical is well positioned for long-term growth by continuing to drive biopharma innovation for the customers they serve.”

Summit Partners, an investor in eClinical since 2020, will continue to hold a minority position in the company. eClinical’s founders will also retain a significant equity stake alongside GI Partners.

“We’ve been honored to be a part of the eClinical growth story over the last several years, as the company has scaled both in size and impact,” said Mark deLaar, a managing director at Summit Partners. “It’s a pleasure to welcome GI Partners, and we look forward to working together to support the company’s continued development of innovative solutions that empower eClinical customers worldwide.”

Guggenheim Securities, LLC served as exclusive financial advisor to eClinical Solutions. Morse, Barnes-Brown & Pendleton, and Choate Hall & Stewart LLP served as legal counsel to eClinical Solutions. Leerink Partners and J.P. Morgan served as financial advisors and Ropes & Gray LLP served as legal advisors to GI Partners.

The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.

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About eClinical Solutions LLC
eClinical Solutions’ industry-leading data & analytics platform, elluminate®, and biometrics services experts help biopharma researchers at large, mid-size, and emerging life sciences organizations manage trial complexity in less time and with fewer resources. Clients get accurate and timely data insights for better decision-making – enabling them to reduce cycle times, improve productivity, easily scale, and develop tomorrow’s breakthroughs with today’s resources. eClinical is a privately-held, purpose-driven company with a global workforce and winner of the 2024 Top Workplaces USA and Culture Excellence Awards and Great Place To Work® India Certification™. Learn more at www.eclinicalsol.com and follow eClinical Solutions on LinkedIn.

About GI Partners
Founded in 2001, GI Partners is a private investment firm with over 170 employees and offices in San Francisco, New York, Dallas, Chicago, Greenwich, Scottsdale, and London. The firm has raised more than $43 billion in capital and invests on behalf of leading institutional investors around the world through its private equity, real estate, and data infrastructure strategies. The private equity strategy invests primarily in companies in the healthcare, services, and software sectors. The real estate strategy focuses primarily on technology and life sciences properties as well as other specialized types of real estate. The data infrastructure strategy invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.