NovaQuest, the former investment arm of Quintiles, has branched off from its former parent company and is now operating as a separate entity. Quintiles, the Durham-based clinical research organization, launched NovaQuest in 2006. Although the two companies are now operating independently, Quintiles will remain a minority investor. NovaQuest is now its own Capital Management firm and has raised $177M of a targeted $500M fund. They invest heavily in early stage drug companies, but also work with large pharmaceutical companies and late stage trials. NovaQuest makes investments that range from around $1 M-$400M in its portfolio companies. The firm seeks to be part of an investment syndicate, instead of a lead investor, on most deals.
Quintiles has been a CED member since 1994 and sponsored our Biotech and Life Science conference last year. Quintiles and NovaQuest together employ about 1,400 individuals in the Triangle and are heavily influential in our community.
To read more, please read the Triangle Business Journal article below:
http://www.bizjournals.com/triangle/news/2010/11/24/quintiles-unit-novaquest-raises-177m.html?ed=2010-11-24&s=article_du
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