Principia invests in Gemelli Clinical Trial Center

Principia acquired a 35% stake in the business. Following the transaction, the GP aims to support the company's expansion of its Site Management Organisation (SMO) and Contact Research Organisation (CRO) for academic researchers and drugs developers, according to a statement.

Principia III – Health launched in December 2014 with a €400-500m target, though the GP was later believed to have subsequently revised the fund's target to €300m. The fund eventually raised €206m, according to a source familiar with the situation.

In May 2017, the GP launched its fourth main fund, Principia IV, with a €150m target and a focus on fashion and design. Its fifth vehicle, Utopia, launched with a €70m target and focuses on the life sciences sector.

Company
Having spun out from Fondazione Policlinico Universitario Agostino Gemelli in 2013, Clinical Trial Center is based in Rome and focuses on the development of drugs and medical devices. In 2016, it developed 247 non-profit studies and 173 for-profit projects.

People
Principia – Antonio Falcone (CEO).

Advisers
Equity – Watson Farley & Williams (legal).

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• Topics
• Expansion
• Healthcare
• Southern Europe
• Venture
• Italy
• Principia