LLR Partners announced a strategic growth investment in TruTechnologies, a provider of real-time clinical trial oversight. LLR’s growth capital and value creation resources will be dedicated to helping TruTechnologies’ expansion as it transforms how pharmaceutical companies, together with clinical research organizations and research sites, oversee, monitor, and manage biological samples and study workflows throughout the clinical trial lifecycle.
TruTechnologies looks to enhance workflow efficiency for research sites while enabling real-time visibility and interventions for pharmaceutical companies and clinical research organizations. And its flagship solution, TruLab, is a first-of-its-kind mobile-enabled offering for protocol-driven clinical trial oversight, biological sample management and tracking, and risk-based monitoring.
Building on TruLab, TruTechnologies has launched two complementary solutions: TruDose (provides dosing compliance and deviation monitoring) and TruScreen (enables real-time visibility to trial participant screening visits and associated outcomes).
Advisors: BofA Securities served as the exclusive financial advisor to TruTechnologies in this transaction. And Wachtell, Lipton, Rosen & Katz served as legal advisor to TruTechnologies. DLA Piper served as legal advisor to LLR Partners.
KEY QUOTES:
“TruTechnologies was founded to solve the ongoing pain point in clinical research of managing biological samples with accuracy, efficiency and compliance. LLR understands our mission, our customers and our industry. We are excited to partner with LLR as we scale to deliver more value to pharmaceutical companies, clinical research organizations and research sites around the world.”
Scott Ogle, Co-Founder and CEO of TruTechnologies
“After 25 years in drug development, I’ve seen firsthand how lack of visibility into study conduct significantly impacts clinical trial outcomes. That’s why I’m so proud of what we’ve built – a solution that finally brings transparency, accountability and oversight to one of the most overlooked aspects of clinical trial execution.”
Rick Graham, PhD, Co-Founder and Chairman of TruTechnologies
“TruTechnologies has pioneered a differentiated solution in a critical but historically underserved area of clinical trials.”
Zack Sigal, Partner at LLR Partners
“The market TruTechnologies serves is driven by the increasing complexity of clinical trials and demand for more precise, real-time oversight and interventions across the research ecosystem. We are excited to partner with TruTechnologies as they continue to support more clinical teams with real-time insights.”
William Sadock, Vice President at LLR Partners
