The corporate venturing investor in ImpactRx, a US-based data provider to doctors, has remained a minority shareholder after the sale of the portfolio company to provide a return to its venture capital backers.
Private equity firm Symphony Technology Group (STG) has acquired a majority ownership interest in ImpactRx, leaving Merck Capital Ventures, the corporate venturing unit of US-based drugs group Merck, a shareholder.
The venture capital (VC) firms that sold out include Mediphase Venture Partners and Oxford Bioscience Partners and secondaries investor Omega Funds. The VCs, as well as Merck, had previously backed ImpactRx’s $1.2m series E round in January last year. 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."