Veristat, a leading Clinical Research Organization (CRO) announced today that Variance Development Partners, a private investment group focused on contributing growth capital to small to mid-sized firms providing services to developing pharmaceutical and medical device companies, has made a growth equity investment in the company. Variance Development Partners investment will enable Veristat to further enhance its market leadership position and provide resources to pursue growth opportunities.
Variance Development Partners Makes a Growth Investment in Veristat LLC | Business Wire
This is a tremendous opportunity for Veristat”, said John Balser, PhD, Co-founder and President of Veristat. “The chance to partner with Variance Development Partners will provide the resources and expertise we need to expand the impact we have had on the drug development programs of our clients. Furthermore, by collaborating with Variance Development Partners to assist in strategic planning, commercial execution and capital deployment, I will be able to bring more of my focus back to client collaborations and scientific leadership at Veristat. This combination of operational and scientific expertise will be invaluable to Veristat as we look to grow the company.”
Headquartered in Holliston, MA, Veristat has demonstrated expertise in supporting clinical trials for pharmaceutical, biotechnology, and medical device companies over the past twenty years. From trial design to final study reports, the company offers complete services across entire clinical development programs through strategic partnerships with their clients. Veristat provides industry-leading expertise with an unwavering commitment to scientific integrity and a renowned focus on long term client collaborations based on trust, respect and exceptional performance.
Commenting on the agreement, Patrick Flanagan, managing partner with Variance Development Partners said: “We are excited to join forces with Veristat. Many developing CROs are filled with scientific talent which routinely gets distracted from maximizing their client impact by the need to manage their business. Our partnership will allow Veristat to focus its scientific expertise on increasing the speed and likelihood of success for their biotech, pharmaceutical and medical device development clients.” Patrick went on to say “Over its 20-year history Veristat’s impact on client development programs has been remarkable. We could not have selected a firm with a better reputation, capability and commitment to assisting their clients.”