Triumph Research Intelligence (TRI), a leading provider of Risk Based Monitoring (RBM) solutions for clinical trials, has completed a deal with Octopus Investments, assisted by members of Simons Muirhead & Burton LLP (SM&B)’s Corporate, Commercial and Finance team.
TRI’s remit to improve data reliability, increase patient safety and operational efficiency, and save the industry millions of pounds each year, is helped by the deal which will accelerate TRI’s core technology platform, OPRA, and expand its international presence. TRI was founded by CEO Duncan Hall in 2013 and developed the first dedicated cloud-based software for RBM. It is currently based in the UK in Cambridge, and in the USA in Raleigh, North Carolina.
Of SM&B, Duncan Hall has said:
“Going through the process of raising funds through a venture capital trust for the first time is a complex and challenging process. It was as much about knowing the right questions as it was about having the right answers. SM&B guided us through the legal side of the process, covering both the big picture and the granular detail…. They were able to provide support across a wide range of legal disciplines, bringing in the right advisors as and when needed. They have become a trusted partner during the course of the process and we will continue to use them as our business grows.”
Octopus Investments, part of Octopus Group, is an award-winning, fast-growing UK fund management business and are experts in smaller companies, renewable energy, and healthcare infrastructure.