LLR Partners has announced a strategic growth investment in TruTechnologies, a company known for its real-time clinical trial oversight solutions. The investment will support TruTechnologies’ expansion efforts as it aims to enhance how pharmaceutical companies and clinical research organizations manage biological samples and study workflows during clinical trials.
TruTechnologies focuses on improving workflow efficiency at research sites while providing real-time visibility and intervention capabilities for pharmaceutical companies and clinical research organizations. Its main offering, TruLab, is a mobile-enabled solution designed for protocol-driven clinical trial oversight, sample management, tracking, and risk-based monitoring.
“TruTechnologies was founded to solve the ongoing pain point in clinical research of managing biological samples with accuracy, efficiency and compliance,” said Scott Ogle, Co-Founder and CEO of TruTechnologies. “LLR understands our mission, our customers and our industry. We are excited to partner with LLR as we scale to deliver more value to pharmaceutical companies, clinical research organizations and research sites around the world.”
In addition to TruLab, the company has developed two other solutions: TruDose for dosing compliance monitoring and TruScreen for real-time participant screening visit visibility.
“After 25 years in drug development, I’ve seen firsthand how lack of visibility into study conduct significantly impacts clinical trial outcomes,” stated Rick Graham, PhD, Co-Founder and Chairman of TruTechnologies. “That’s why I’m so proud of what we’ve built – a solution that finally brings transparency, accountability and oversight to one of the most overlooked aspects of clinical trial execution.”
Zack Sigal from LLR Partners remarked on TruTechnologies’ pioneering role in addressing an underserved area of clinical trials. William Sadock from LLR added that the market served by TruTechnologies is driven by increasing complexity in trials and demand for precise oversight.
BofA Securities acted as financial advisor to TruTechnologies in this transaction. Legal advice was provided by Wachtell, Lipton, Rosen & Katz for TruTechnologies and DLA Piper for LLR Partners.
Founded in 2018, TruTechnologies collaborates with major pharmaceutical companies to accelerate patient screening and enrollment while ensuring protocol adherence.
