New company focused on managing Phase III trials gets $100 million commitment

Paul Capital Healthcare has agreed to provide $100 million to Phase III Development Company (P3D), a newly-established company that assists in management and financing of Phase III clinical trials in Europe in effort to propel late-stage drug development forward. P3D has recently entered into an agreement with a globally-recognized pharmaceutical company to fund clinical trials and label expansion for an approved product. “By funding P3D, we can provide a truly novel means of assisting pharmaceutical companies seeking external financing and risk sharing in the development of their late stage drug pipelines,” said Ken Macleod, Ph.D., Partner in the London office of Paul Capital Healthcare, in a PR Newswire release.

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