London, UK – Global Healthcare Opportunities, or GHO Capital Partners LLP (GHO), the European specialist investor in healthcare, announces the acquisition of Velocity Clinical Research, from NaviMed Capital (“NaviMed”) and other investors, signalling how the business of running clinical trial sites is changing.
Headquartered in Durham, North Carolina, Velocity operates 16 fully-owned sites across 11 US states. The company serves biopharmaceutical and contract research organisation (CRO) clients in primarily conducting phase II and phase III clinical trials in support of their global drug development programs. In just three years, Velocity has worked with over 200 biopharmaceutical clients, including all of the top 10 pharma sponsors, and its sites have collectively conducted over 5,000 clinical trials.
All of Velocity’s sites are fully integrated via a centralised infrastructure and common technology backbone, allowing for superior patient enrollment and consistent, high quality data delivery. The acquisition of Velocity signals the next stage of the rapidly changing clinical trial site landscape, which has traditionally been highly fragmented, despite attracting nearly $15 billion in annual investigator fees expended by the biopharmaceutical industry.
The industry demonstrated last year that by speeding up the rate of patient recruitment, sponsors can get drugs and vaccines to market quicker than previously accepted. This was at unprecedented speed in the case of COVID-19 where the industry collectively recruited 30,000 US-based volunteers per study across multiple studies in just 4-6 weeks, which normally would have taken 6 to 12 months.