SAN BRUNO, CA -- (MARKET WIRE) -- January 03, 2007 -- Gentiae Clinical Research, Inc., a leader in comprehensive cardiac assessment services for clinical trials, announced today the completion of a $16 million round of financing led by Bay City Capital. Funding was also provided by new investors CIBC Capital Partners and Merlin Biosciences, as well as by existing investor Three Arch Partners. The company is also pleased to announce that concurrent with closing of the financing, William G. Gerber, M.D., representing Bay City Capital, was appointed to Gentiae's Board of Directors.
"This financing represents a tremendous milestone for Gentiae as well as a strong acknowledgment of support for our position in the cardiac safety services market," said Gentiae President and Chief Executive Officer Craig Albright. "This vote of confidence by the investment community provides us with the resources to fortify our existing services, expand our global presence and continue to enhance our LifeSignals™ data access platform in order to better support our clients in their key decisions."
"Gentiae demonstrates the primary qualities that we look for in an investment -- a strong track record of performance coupled with a management team that can lead the company in a growing market," said Dr. William Gerber of lead investor Bay City Capital. "Gentiae is well positioned to expand its footprint among large pharma and emerging biotech companies. We look forward to working with the senior management team in helping the company realize its potential."
Appointment of William G. Gerber, M.D. as Director
Dr. Gerber is a Partner at Bay City Capital and joined the firm in September 1999. He was previously President and Chief Executive Officer of Epoch BioSciences. Prior to joining Epoch, Dr. Gerber was a member of senior management in companies including diaDexus, Onyx Pharmaceuticals, Chiron and Cetus. Dr. Gerber is Chairman of the Board of Directors of Pathway Diagnostics and a member of the Board of Directors of Conatus Pharmaceuticals, Nanogen, Inc., Radiant Medical, Inc. and Sangamo Biosciences. He received his MD and BMS degrees from University of California, San Francisco Medical Center after attending Dartmouth College.
"We're very fortunate to add Dr. Gerber to our board," said Mr. Albright. "His broad experience in clinical development and contacts in the industry will provide a valuable resource as Gentiae executes its strategy."
Gentiae Clinical Research, Inc., based in the San Francisco Bay Area, is a leader in comprehensive cardiac safety assessment for clinical trials including electrocardiography (ECG), Holter, echocardiography (ECHO) and angiography. As a spin-off from the non-profit Ischemia Research and Education Foundation, Gentiae inherits nearly 20 years of experience interpreting cardiac safety data for global studies. Leveraging its industry-leading data analysis, Gentiae is able to deliver tangible value to clients through efficient, cost-effective cardiac safety and functional studies in all phases of development. Gentiae also provides supporting clinical services that include protocol design, project management, data management, statistical analysis, report writing, and regulatory support.
The name Gentiae [jen ·tee · ay'], based on a Latin root, means "people of the world." More information about Gentiae can be found at www.gentiae.com.
SOURCE: Gentiae Clinical Research
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