Leading global alternative asset management firm TPG announced a significant strategic growth investment in K2 Medical Research, an integrated clinical trial site platform that specializes in central nervous system (CNS) trials for leading pharma and biotech sponsors. And TPG is partnering with K2’s management team to continue building a sophisticated research platform. The terms of the deal were undisclosed.
Launched by CEO Sean Stanton and Chief Medical Officer Brandon Lenox, DO, K2 operates several de novo clinical trial sites across Florida. The company specializes in conducting multi-phase clinical trials in complex therapeutic areas, including Alzheimer’s, psychiatry, liver disease (MASH), etc.
K2’s model is based on strong site operators, and the company successfully differentiated itself by developing direct relationships with pharma and biotech sponsors while executing an impressive de novo regional growth strategy. The company has also participated in over 150 studies for over 35 sponsors including AbbVie, Eisai, Eli Lilly, Johnson & Johnson, and Roche.
K2 has also strategically partnered with the Central Florida community, focusing on key stakeholders dedicated to finding solutions for diseases with limited to no treatment options. And each K2 location boasts a sophisticated clinical trialist and strong scientist/medical leadership, forming a robust dyad as the backbone of the site.
Headed by a management team with 30+ years of experience, K2’s strengths include:
1.) Patient Recruitment – Emphasizing diversity with a minority and underserved represented staffing model
2.) Mobile Research Unit (Wanda) – Bringing research directly to the community
3.) Agile Start-Up Process – Ensuring swift initiation of trials
4.) Fully Integrated Technology Platform – Seamless management from patient engagement to study completion
Hank Heller (COO) and Lesia Hise (CFO) provided significant support to the formation of the partnership.
Foley & Lardner served as legal advisor to K2. Latham & Watkins LLP served as legal counsel to TPG and Harris Williams served as financial advisor to TPG.
KEY QUOTES:
“At the core of our healthcare investing strategy is to partner with and grow companies that are adding value to the healthcare system and enabling better patient outcomes. Through its important clinical research work, the team at K2 is delivering solutions that benefit patients, physicians, and the broader research community. We have known Sean for many years and look forward to partnering with him, Brandon, and the K2 team on this next phase of their growth journey.”
– Matthew Hobart, Co-Managing Partner of TPG Growth
“As we continue to grow, it is important for us to find a partner that not only brings significant expertise investing behind leading healthcare companies, but also shares our values and commitment to our patients and sponsors. Brandon and I founded K2 to offer innovative and practical solutions to patients seeking treatment and to establish a new standard for how clinical trials are delivered. This is critically important work for the families and communities we serve, and we are thrilled to partner with the team at TPG to accelerate our strong momentum.”
– Sean Stanton
“Our innovative approach is key to the work that we do every day, but what truly sets us apart is the dedicated team that ensures each of our patients receive the best possible care. Building and growing our unique culture – grounded in respect, humility, compassion, and warmth – remains an essential part of our success. We see an exciting opportunity to build a multi-regional integrated site platform and are confident that TPG is the right partner to achieve our shared goals for K2.”
– Brandon Lenox, DO
