US-based healthcare research company Impactrx, which is backed by Merck’s corporate venturing unit, has bought rival AlphaDetail for an undisclosed sum.
The deal on Sunday comes after private equity Symphony Technology Group acquired a majority stake in Impactrx last year.
Merck Capital Ventures, the corporate venturing unit of US-based drugs group Merck, retained a stake, when Symphony bought the company.However, its venture capital (VC) partners Mediphase Venture Partners and Oxford Bioscience Partners and secondaries investor Omega Funds sold their stakes to Symphony. The VCs, as well as Merck, had previously backed ImpactRx’s $1.2m series E round in January 2011. The previous D round raised $14.3m in August 2004 from the VCs, Merck and UK-listed private equity firm 3i.
VC firms normally have a decade to realise an investment and ImpactRx had launched in 2000.
JT Treadwell, managing director at Symphony, said: "ImpactRx is a strong company, and a terrific starting point for STG to bring its operations-focused approach to investing in the life sciences industry. We are pleased that Merck Capital Ventures shares our vision as a shareholder committed to ImpactRx’s future."