Pharmaseal secures 1m pounds in seed funding to drive international expansion
The funding round was secured from the MEIF Proof of Concept and Early Stage Fund alongside Mercia and angel investors to support global growth.
Pharmaseal develops clinical trial management software designed to give pharmaceutical companies greater control and governance over trials.
Nottingham-based software developer Pharmaseal has secured one million pounds in a seed funding round to support its international expansion. The investment was led by the MEIF Proof of Concept and Early Stage Fund, with additional participation from Mercia and angel investors.
The capital will be directed towards enhancing the company flagship clinical trials platform with new features while scaling up global sales and marketing efforts. This follows a previous funding injection secured by the firm last year.
Established in 2016, Pharmaseal provides technology aimed at improving oversight and governance during clinical trials. The latest financial backing marks a significant milestone as the enterprise prepares to introduce its products to a broader worldwide audience.
From the founder
"PHARMASEAL aims to give customers increased control over their clinical trials and product development. This second round of investment demonstrates the confidence that investors have in our product and will enable us to scale up our commercial operations."
Daljit Cheema
CEO at Pharmaseal
Investor perspective
"Gaining regulatory approval for new medicines or medical devices is extremely difficult, especially for smaller firms. PHARMASEAL’s platform is accessible for companies of all sizes and should help them to bring products to market more quickly and at lower cost. Engility has already generated significant attention within the industry. This funding round will help the team to build on the initial interest and generate global sales."
Ashish Patel
Mercia
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Invest in sales and marketing
Investors
Categories
About the company
Pharmaseal
Software platform streamlining clinical trial management for pharmaceutical firms.