21 Aug Three Wisconsin groups invest in PercipEnz software firm
Madison, Wis. – A syndicate of investors has joined forces to invest in PercipEnz Technologies, a Madison company that develops clinical research software.
The $1 million commitment was provided by NEW Capital Fund, Wisconsin Investment Partners, and Silicon Pastures.
Srini Kalluri, president and chief executive officer of PercipEnz, said the funding will allow the company to fill key positions in support of an expanded product offering. During the next few months, PercipEnz expects to increase its staff by 50 percent to more than 30 employees.
PercipEnz has developed enterprise software that helps research centers manage regulatory compliance, financials, clinical data, and other aspects of their clinical research operations. Its flagship product, the Oncore software platform, is designed to help research institutions comply with government regulations, encourage collaboration, and administer an entire portfolio of clinical trials.
Thus far, more than 20 research organizations have adopted Oncore to manage their clinical trials.
Charlie Goff, managing partner of NEW Capital Management, led the investment, citing Percipenz’s traction in cancer clinical trial installations and its future potential for significant growth in the non-cancer clinical Enterprise Resource Planning market.
• Georgia stem cell company likely to stay put
• TrafficCast secures $2M from Phenomenelle Angels, NEW Capital Fund
• GenTel acquires GlaxoSmithKline chip platform
• Renovar captures $1.2M for product development
• Geoff Bastow: New Silicon Pastures director envisions more home cooking for Wisconsin angels