Three Wisconsin Investment Groups Combine Forces to Invest in Software Company PercipEnz Technologies

Three Wisconsin Investment Groups Combine Forces to Invest in Software Company PercipEnz  Technologies.


 


Clinical research received a boost on Friday as a syndicate of investors came together to put money into a Madison area software company.  PercipEnz Technologies, Inc. makes software that helps research centers manage all aspects of their clinical research operations – from regulatory compliance to financials management to clinical data management.  The organizations making the investment included NEW Capital Fund L.P., Wisconsin Investment Partners and Silicon Pastures. 


 


PercipEnz is a computer software company that develops and markets specialized, enterprise-class clinical research and biospecimen management systems. The PercipEnz flagship product, the Oncore® software platform, is intended to help research institutions increase their operational efficiency. 


Government regulations can impose a significant compliance burden on scientific researchers.  Although government regulations are meant to increase the integrity of scientific research data and thus increase the value of the results, compliance is not trivial, and there has been an increasing need for products that can reduce administrative headaches. 


The Oncore platform helps researchers:


 


1)     administer their portfolio of clinical trials


2)     comply with government regulations


3)     streamline research operations and


4)     reduce duplication of effort with laboratory and hospital information system integration


 


“We have always taken a collaborative approach to satisfying the needs of research centers by actively involving them in the product development process,” says Dr. Tony O’Hare, chief scientific officer at PercipEnz. “That’s our ‘innovating through collaboration’ philosophy.”  Through monthly teleconferences, quarterly newsletters, collaborative development initiatives, a community website, and semi-annual conferences, Oncore users receive the benefits of networking and training while they provide input into Oncore’s evolution.


 


The Oncore community, known as “Onsemble” convenes for their next face-to-face gathering, the Onsemble 2007 Fall Conference, on September 19-21 at Madison‘s Fluno Center.


 


Over 20 research organizations have adopted Oncore to manage their entire portfolio of      clinical trials.


 


Expressing his appreciation for this new investment, Srini Kalluri, PercipEnz president and chief executive officer says, “As much as we believe in what we do, it is nice to receive this endorsement from the investment community. The funds we receive will allow us to fill key positions throughout the company in support of our expanded product offering and growing customer base. In the next few months, we expect to grow our organization by 50%, increasing our team to 33 employees.”


 


NEW Capital Fund, LP, a venture capital firm headquartered in Appleton, led the investment group.  Charlie Goff, the Fund’s General Partner, said they were attracted to PercipEnz because of their significant market share in cancer clinical trial installations.  Goff added, “What bodes well for PercipEnz’s future is their potential for significant growth in the non-cancer clinical trial ERP arena.”


 


NEW Capital Management, Inc. was joined in this investment by members of Wisconsin Investment Partners and Silicon Pastures.


 


“The company has achieved significant market traction.  We were excited to see just how well their customers are responding to the Oncore product,” said Teresa Esser, managing director of Silicon Pastures LLC.


 


PercipEnz Technologies, Inc. is located at 708 Heartland  Trail, Suite 1800, Madison, Wisconsin, 53717.  PercipEnz President and CEO Srini Kalluri can be reached at: 608-826-6000 or [email protected].  Website: www.percipenz.com.


 


NEW Capital Fund L.P. Is managed by NEW Capital Management, Inc., which is located at 200 E. Washington Street in Appleton, Wisconsin, 54911.  The fund’s general partner, Charlie Goff, can be reached at: 920-731-5777.  E-mail: [email protected].  Website: www.newcapitalfund.com


 


Wisconsin Investment Partners representative Bob Wood can be reached at: 608-233-4680.  E-mail: [email protected].


 


Silicon Pastures’ managing director, Teresa Esser, can be reached at: 414-771-4350.  E-mail: [email protected].  Website: www.siliconpastures.com.