Genesis Capital invests in AusTrials
- Posted by Ang Visser
- On 01/08/2023
Genesis Capital invests in AusTrials, Creating the Only Trans-Tasman Clinical Trials Network
- AusTrials, a premier Australian clinical trials Site Management Organisation (SMO), partners with specialist healthcare investor Genesis Capital.
- The partnership brings P3 Research, a leading New Zealand SMO, together with AusTrials to establish a Trans-Tasman network in the clinical trials industry.
- The investment will enable AusTrials to accelerate its pursuit of evaluating new medical treatments and facilitating greater patient access to pioneering treatments.
BRISBANE, Australia, July 29, 2023
Genesis Capital, a specialist healthcare investor, has announced its investment into AusTrials, a leading Australian clinical trials site Management Organisation, adding it to its recent acquisition of New Zealand’s P3 Research. The addition established the only trans-Tasman clinical research site network, with seven sites across New Zealand’s North and South Islands and four sites across Australia’s east coast. The combined group is now able to provide a greater number of patients across more geographic areas the opportunity to access the latest innovative treatments across a broad range of therapeutic areas.
Founded in 2009, AusTrials is known for its expertise in delivering successful phase II-IV clinical trials. The company works closely with global pharmaceutical companies, contract research organisations, and academic institutes. Following this transaction, the combined group will accelerate plans to deliver a streamlined, centralised network of sites for the US$50bn clinical trials industry, while leveraging its scale to attract more clinical trials to Australia and New Zealand.
Dr. Michael Caristo, Partner at Genesis Capital, said “This investment will provide AusTrials with the needed resources to expand its capacity and adapt to the increasing complexity, speed and scale of contemporary clinical trials across all phases. AusTrials has demonstrated consistent success and growth throughout its history. With this investment, we look forward to accelerating AusTrials’ expansion and capacity to contribute even more significantly to global medical advancements.”
Managing Director of AusTrials, Dr Munro Neville, said “Our partnership with Genesis Capital comes at a crucial time as we have seen an ever-growing increase in demand for Australian clinical trials. The combination of our site network with P3 Research establishes a leader in clinical trial sites and will better equip us to meet that demand. In addition, we are excited by the opportunity to accelerate our Australian growth plans with further capital investment.”
Genesis Capital has been a consistent investor in the clinical trials services sector, with previous investments including CRO Avance Clinical and Melbourne-based bioanalytical laboratory business Crux Biolabs.
AusTrials is a leading private clinical trials site management organisation in Australia. Since its establishment in 2009, AusTrials has been dedicated to the ongoing evaluation of new medical treatments, delivering results in a highly ethical environment that puts the needs of the patients first.
About Genesis Capital:
Genesis Capital is a specialist investment firm focused on building strong healthcare businesses in Australia and New Zealand. They are an active partner working alongside management to unlock growth in healthcare businesses that have the potential to be industry leaders.
Genesis Capital / AusTrials
0491 002 064