Elligo Health Research Secures $20 Million Series C Funding to Enhance Clinical Trial Solutions

VCBeat (WeChat ID: vcbeat) has learned that integrated research organization Elligo Health Research announced the completion of a $20 million Series C financing round. The round was led by Piper Jaffray Commercial Bank, an affiliate of Piper Jaffray, with participation from investors in the Company’s Series A and B rounds. Reportedly, this marks the second time the company has secured investment within a little over a year.

Previously, Elligo secured Series A and Series B funding in 2016 and 2018, respectively. On March 20, 2018, the company raised $16 million in its Series B round, which was co-led by Hatteras Venture Partners and Noro-Moseley Partners.

Elligo Health Research is an Integrated Research Organization (IRO) founded in 2016 by Dr. John Potthoff and Chad Moore. The company combines clinical expertise with research infrastructure, leveraging the IntElligo Research Stack™ clinical technology and the Goes Direct® approach to accelerate the development of new drugs, biotechnology products, medical devices, and diagnostic products, thereby creating clinical trial solutions. Elligo Health Research’s mission is to ensure that all patients have access to clinical trials by preserving the integrity of trusted patient-physician relationships and building a global research community through the use of electronic health records.

“Our goal is to enhance the efficiency of clinical trials through innovation,” said Dr. John Potthoff, CEO of Elligo. “The continued support from our investors for the Goes Direct® approach and the novel IntElligo Research Stack™ clinical technology has enabled us to rapidly expand our base of physicians and patients who otherwise would not participate in clinical trials.”

“We believe Elligo’s mission is to help all patients access the best clinical trial opportunities and make them a care option,” said Tom Schnettler, Managing Director at Piper Jaffray & Co. and a new member of Elligo’s Board of Directors. “With more than 62 active research sites, their model has proven itself as the ultimate solution for enhancing patient access and engagement, which is why we are committed to continuing our support.”

Piper Jaffray Companies (NYSE: PJC) is a leading investment bank and asset management firm. The company provides securities brokerage and investment banking services in the United States through Piper Jaffray & Co., a member of SIPC and FINRA. Its European operations are conducted by Piper Jaffray Ltd., which is authorized and regulated by the UK Financial Conduct Authority. The company’s Hong Kong entity, Piper Jaffray Hong Kong Limited, is licensed and regulated by the Securities and Futures Commission of Hong Kong. Piper Jaffray Companies’ asset management products and services are offered through five independent investment advisory firms, including an SEC-registered advisory research firm, Piper Jaffray Investment Management LLC, PJC Capital Partners LLC, Piper Jaffray & Co., and Guernsey-based Parallel General Partners Limited.

(Compiled by He Qiongfeng)