Accelerator, a private biotechnology investment and development company, has added PPD, global contract research organization providing discovery, development and post-approval services as well as compound partnering programs, as the sixth investor in Accelerator III, the company`s most recent investment vehicle. Inclusive of this investment from PPD, investors have committed capital in excess of $27 million to Accelerator III. PPD will join Accelerator`s syndicate of investors that includes Amgen Ventures, ARCH Venture Partners, OVP Venture Partners, WRF Capital, and Alexandria Real Estate Equities along with its academic anchor the Institute for Systems Biology.
David M. Schubert, Chief Business Officer of Accelerator, said, "As a clinical research organization, PPD`s expertise in planning and executing preclinical drug development and Phase I through Phase IV clinical trials, along with its significant internal resources and broad skill base, will be particularly valuable to Accelerator and Accelerator companies. We believe that PPD is an ideal strategic partner and investor for Accelerator."
Steven Gillis, Managing Director, ARCH Venture Partners, said, "The investors in Accelerator look forward to working with PPD and its Founder and Chief Executive Officer Fred Eshelman, a highly respected entrepreneur in pharmaceutical development and contract research."
Source:
http://www.siliconindia.com/shownews/49169
David M. Schubert, Chief Business Officer of Accelerator, said, "As a clinical research organization, PPD`s expertise in planning and executing preclinical drug development and Phase I through Phase IV clinical trials, along with its significant internal resources and broad skill base, will be particularly valuable to Accelerator and Accelerator companies. We believe that PPD is an ideal strategic partner and investor for Accelerator."
Steven Gillis, Managing Director, ARCH Venture Partners, said, "The investors in Accelerator look forward to working with PPD and its Founder and Chief Executive Officer Fred Eshelman, a highly respected entrepreneur in pharmaceutical development and contract research."
Source:
http://www.siliconindia.com/shownews/49169
