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  • Octagon Research Solutions, Inc. Closes $10 Million in Third Round of Venture Capital Funding

    September 6th, 2006 No comments

    Company to continue innovative approach to integrated solutions for life sciences organizations

    Octagon Research Solutions , Inc ., a pioneer and leader in the electronic transformation of clinical R&D in the life sciences industry, recently announced that the company has completed a $10 million third round of funding led by Edison Venture Fund.  Zurich Financial Services Group and Ticonderoga Capital also participated in this round of funding while Tyler Wick of Ticonderoga Capital joined the Board of Directors of Octagon as part of this financing.  The proceeds will accelerate development and fuel the company’s explosive domestic and international growth. The company completed a first round of funding for $3.8 million in February 2003, and a second round of $3.5 million in March of 2005 also led by Edison Venture Fund.

    “We are pleased and excited that high caliber financial partners such as Edison, Zurich and Ticonderoga recognize us as a wise investment opportunity based on our global presence, our rapidly growing customer base and our overall business strategy,“ stated Mr. Walker. “This latest round of funding validates the effort we’ve put into developing the industry’s most robust offerings, including ViewPoint, StartingPoint, and eCTD JumpStart™ to address the changing needs of our growing client base.”

    Named 2006 ‘Most Innovative Company’ by American Business Awards, Octagon Research Solutions, Inc., has the experience of over 180 electronic submissions.  With pan-European access to submission strategy Octagon boasts the largest cross-functional team of submission professionals in the industry, touting the most in-depth knowledge and practical experience with electronic submissions.  Octagon’s award winning ViewPoint solution is currently being used by two of the top ten pharmaceutical companies and has been deployed in the U.S. & Europe. ViewPoint also powers Octagon’s renowned business process outsourcing services and continues to gain market share as the industry’s first enterprise solution for the management and control of complex submission processes.
    The $10 million dollar funding includes $2 million each from Edison Venture Fund and Ticonderoga Capital and $3 million each from Zurich and another investor. John Martinson, Edison Managing Partner noted, “We believe in Octagon’s service methodology, technology platform and business strategy. Their integrated solutions are becoming the model for industry and we look forward to continued success as Octagon expands their product and service offerings.”

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