By Jennifer Chiou
New York, Dec. 21 - Clinquest Group said it closed an up to $5.5 million round of financing with BioGenetics Capital Pte Ltd.
Clinquest will receive $4 million upfront with an option for an additional $1.5 million from BioGenetics Capital to be made within one year.
"We intend to use part of this funding to increase and expand our truly innovative offerings in pharmacovigilance, among other business areas," Clinquest president and chief executive officer Cornelis H. Wortel said in a news release.
"Furthermore, our connection with BioGenetics Capital gives Clinquest access to the fast-growing life sciences markets of Asia, in addition to our American and European presence."
Based in Amsterdam, the Clinquest Group has subsidiaries focused on product development services to the biopharmaceutical, medical device and medical data industries. Clinquest Inc. has offices in Hudson, Mass.
| Issuer: | Clinquest Group
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| Issue: | Stock
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| Amount: | $5.5 million ($4 million upfront)
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| Investor: | BioGenetics Capital Pte Ltd.
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| Announcement date: | Dec. 21
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