PharmaSEAL International Secures £1M Series A Funding to Advance B2B Digital Platform for Clinical Trial Management

Recently, VCBeat (WeChat Official Account: vcbeat) learned that PharmaSEAL International, a biotechnology company headquartered in Nottingham, UK, has announced the completion of its £1 million Series A financing round. This round was invested by Midlands Engine Investment Fund, existing investor Mercia Fund Management, and Pitch@Palace.

PharmaSEAL International was co-founded in 2016 by CEO Daljit Cheema and Chairman Neil Rotherham. The company is dedicated to creating a B2B digital control platform that helps biopharmaceutical companies strengthen their oversight of clinical trial processes and accelerate drug development. Its flagship product is the Engility CTMS (Clinical Trial Management System) platform. The proceeds from this financing round will be used to enhance the platform’s additional features and drive its commercialization.

The Engility CTMS platform is a SaaS (software-as-a-service) cloud platform centered on flexibility. It creatively employs agile-based engineering practices to overcome traditional challenges such as poor usability, legacy applications, long implementation cycles, and high maintenance costs. The Engility CTMS platform provides customers with specialized clinical trial procurement models across hundreds of ongoing trials. Pharmaceutical and medical device companies can leverage the Engility CTMS platform for unified clinical trial management.

The Engility CTMS platform offers flexibility and scalability, adapting to the organizational models of biopharmaceutical and medical device companies of all sizes through its intuitive interface and agile cloud architecture. The Engility CTMS platform reduces training burdens and supports data-driven decision-making. Furthermore, as a modern cloud-based web application, it enables customers to rapidly deploy via the PharmaSEAL International management platform, allowing them to focus on controlling and conducting clinical trials, thereby deriving significant benefits.

Daljit Cheema, CEO and Founder of PharmaSEAL International, stated, “With Engility, we can enable more companies to improve their management and oversight processes. PharmaSEAL has demonstrated one thing: advanced engineering and automation technologies can streamline and integrate complex trial management activities.”

It is worth mentioning that PharmaSEAL International completed a £500,000 seed funding round in January 2018, with investments from Mercia Fund Management and Pitch@Palace.

MEIF was established in partnership with British Business Bank, the West Midlands, and ten local enterprises across the East and South Central regions. Supported by the European Regional Development Fund, MEIF is business-focused and invests through small business loans, debt financing, proof-of-concept funds, and equity financing funds.

Mercia Fund Management, a venture capital firm established in Warwickshire, UK, in 2010, is a member of the British Private Equity and Venture Capital Association. Mercia Fund Management provides venture capital to early-stage technology startups located in the West Midlands and currently manages two funds with a total value of £12.8 million.

Pitch@Palace was established in London, UK, in April 2014. It is dedicated to serving entrepreneurs by providing mentorship and support to startups, while connecting them with potential backers, including investors and business partners.

(Compiled by Li Chengping)