Decentralised clinical trials company Medical Research Network (MRN) has completed a private investment round and is all set to expand its geographic presence further.
The investment round includes a £3m working capital facility from Shawbrook Bank.
Medical Research Network’s growth is aimed at improving its operational reach. It already has operations in North America, Europe and Australasia.
Through further development of its research & development capabilities, the company also plans to increase its offerings.
Medical Research Network CEO Graham Wylie said: “Our aim has always been to make the clinical trials process as efficient as possible by allowing patients to take part from the comfort of their own home, workplace or school.
“Our HTS services through the current pandemic has not only allowed patients to have access to potential medications they wouldn’t normally be able to access, but we have been fundamental in rescuing multi-million dollar clinical trials that would have collapsed due to the lack of access to hospitals.”
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The company works with global pharma, biotech and CRO companies, specialising in conducting clinical trial visits in patient’s homes as well as supporting the sites with specialist nursing resources.
Shawbrook Bank Corporate Lending team for the North West region director Sarah Laverty said: “For Shawbrook, MRN represents an excellent opportunity for the bank to support a very well-regarded existing customer, with a proven model and historic success in a growing global market.
“They have proved the value of ‘decentralised clinical trials’ well before the Covid pandemic hit and the demand for this service has only increased since then.”