Navigation Links
RadPharm Announces $10 million Series B Financing, led by Siemens Venture Capital
Date:11/28/2007

PRINCETON, N.J., Nov. 28 /PRNewswire/ -- RadPharm, Inc., a leading provider of medical image review services for clinical research, announced the completion of a $10 million Series B financing led by Siemens Venture Capital ("SVC"). Existing investors Ampersand Ventures, Adams Street Partners and Tang Capital Management participated in the financing.

"Siemens brings a wealth of expertise in medical imaging and clinical research, and we are delighted to welcome them as an investor," explained Ronald A. Berg, President and CEO of RadPharm. Mr. Berg added, "This financing marks another key milestone for RadPharm in a year that has included strong growth in revenues and backlog, the opening of an office in Munich, and further expansion of RadPharm's customer base. As a global organization that has provided image review services for over 60 sponsors and 250 clinical trials, and with the additional capital provided by this financing, RadPharm is well-positioned to continue expanding its offering of core laboratory services for drug development."

Dr. Andrew Jay, Managing Partner of SVC added, "We are excited about RadPharm for a host of reasons: The majority of medical imaging is related to cancer, and RadPharm is the leader in imaging analysis for oncology trials. The company's management team and staff of radiologists have a phenomenal wealth of knowledge. With Siemens Medical Solutions Group being a leader in the fields of imaging, clinical diagnostics and radiation therapy, there are numerous areas of synergy."

About RadPharm

RadPharm integrates expertise in medical imaging and drug development to enable the more rapid development of breakthrough treatments for cancer and other diseases. RadPharm provides the broadest range of image review and medical services for oncology drug development including central radiology review, radiation therapy QA services, oncology clinical reviews, medical photography reviews, and regulatory submission services. For more information, visit http://www.radpharm.com.

About Siemens Venture Capital:

Siemens Venture Capital (SVC) is the corporate venture organization for Siemens AG, one of the largest global electronics and engineering companies, with reported worldwide sales of 87.3 billion euros in fiscal 2006. SVC's goal is to identify and fund investments in emerging and innovative technologies that will enhance the core business scope of Siemens, particularly in the focus areas of long-term growth markets such as Energy & Environmental Care, Automation & Control, Industrial & Public Infrastructure, and Healthcare. To date, SVC has invested over 700 million euros in more than 100 startup companies and 35 venture capital funds, making venture capital at Siemens an integral component of the Siemens innovation and growth strategy and supplementing its in-house research and development activities (5.7 billion euros and 50,000 R&D experts in 2006). SVC is located in Germany (Munich), in the U.S. (San Jose, CA and Boston, MA), in China (Beijing), in India (Mumbai), and is active through Siemens' regional unit in Israel.

SVC is part of Siemens Financial Services and of a greater network at Siemens whose mission is to drive technological innovation by supporting startup companies. In addition to Siemens Venture Capital, Siemens Technology Accelerator and Siemens Technology-To-Business Center also contribute to Siemens' innovation strategy. Their individual mandates are defined according to financing stages and industry focus. More information can be found at: http://www.siemensventurecapital.com.

About Siemens Financial Services

With its roughly 1,800 employees and an international network of financial companies coordinated by Siemens Financial Services, Munich, the Siemens Financial Services (SFS) Group offers a broad range of financial services. This covers everything from sales and investment financing to treasury services, venture capital, fund management and insurance brokerage. SFS's key customers are above all internationally active industrial and services companies, as well as public-sector operators. For more information see: http://www.siemens.com/finance.


'/>"/>
SOURCE RadPharm, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
2. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
3. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
4. HEI, Inc. Announces Sale of RFID Division Assets
5. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
6. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
7. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
8. Brooke Franchise Corporation Announces Selected July Results
9. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
11. Planet Technologies Announces Agreement to Acquire Antigen Laboratories
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... ... February 24, 2017 , ... ... education, networking and recognition opportunities as well as advocacy for the state and ... NJ on February 23. The Council's Innovation Forecast event highlights innovation throughout ...
(Date:2/24/2017)... ... 24, 2017 , ... The Smart Machine Age is here, and it’s disrupting ... percent of all jobs in the United States may be taken over by technology ... the aggressive know-it-all who steamrolls over colleagues is drawing to a close. Success will ...
(Date:2/24/2017)... McKinney, Texas (PRWEB) , ... February 24, 2017 , ... ... south to The Medical Center at Craig Ranch building at 8080 State Highway 121, ... Ranch Medical District with easy access to Highway 121. , As the practice has ...
(Date:2/24/2017)... San Diego, CA (PRWEB) , ... February 24, 2017 , ... ... announce its 2017 national conference convening academic faculty engaged in or interested in palliative ... Education and Research,” will be held in North County San Diego on Sept. ...
(Date:2/24/2017)... ... , ... Indiana Fiber Network (IFN) President and CEO Kelly C. Dyer recently ... as the Chairman of the Management Committee when IFN was originally formed in 2002 ... of investor/owners and development of the business plan. He became the first paid ...
Breaking Medicine News(10 mins):
(Date:2/24/2017)... -- Medivir AB (Nasdaq Stockholm: MVIR) today ... of Directors that will be submitted to the 2017 ... of the company,s three largest shareholders at the end ... a seat on the Nomination Committee, and the Chairman ... Committee was as follows:  ...
(Date:2/23/2017)... Visiomed, the French leader in medical ... changing the landscape of healthcare with their innovative ... custom-made solutions. Recognizing the rising demand of self-monitoring ... without walls, Visiomed has launched BewellConnect, the most ... professionals that is empowering the lives of patients. ...
(Date:2/23/2017)... -- LG Innotek hat heute die weltweit erste 70 mw ... 1,5-fache des 45-mW-Moduls der Konkurrenz. UV-C LED ... 280 nm und eignet sich damit für Sterilisationsaufgaben. Es verhindert ... Das Produkt von LG Innotek erzeugt UV-Strahlung im Bereich ... ...
Breaking Medicine Technology: