Shoosmiths has advised the intermediate capital team of Octopus Investments on its latest growth capital investment, into leading global clinical trial solutions provider Triumph Research Intelligence (TRI).
The multi-million pound investment will allow TRI to further enhance its core risk-based monitoring technology platform.
Shoosmiths corporate partner Alastair Peet led on the deal, with senior associate Alistair Hammerton, associate Helen Burnell, as well as employment senior associate Nick Vernon, tax partner Tom Wilde, and banking partner Rebecca Mauleverer and associate Charlotte Thomas.
TRI was founded in 2014 and developed the first dedicated cloud-based software for risk-based monitoring. The software, OPRA, enables early risk detection, improved data quality, increased operational efficiency and compliance with regulatory requirements. Clients include a wide variety of clinical research organisations.
Alastair Peet said: “It’s always a pleasure working with everyone at Octopus. This deal is a perfect example of the depth of experience and knowledge within the venture capital team here, as well as the wider offering we can offer at Shoosmiths, not to mention our solution-driven approach in order to get the deal done.
“TRI is yet another ambitious company whose vision and innovative product are a perfect fit for Octopus’ portfolio.”
Grant Paul-Florence, Head of Intermediate Capital at Octopus Investments, said: “The advice from Alastair and the rest of the team has been nothing short of first-class. Being able to draw on the depth of knowledge within Shoosmiths is absolutely crucial to our needs as a business.
“We believe that TRI will apply its skills, product, and ambition to ensure that OPRA becomes a world leading risk-based monitoring platform.”
For more info on TRI, visit www.tritrials.com.