Clinipace Worldwide, a US-based digital clinical research organization, has raised $15m in its series C round led by Morgan Stanley Expansion Capital, a division of the eponymous investment bank.
Venture capital firms Hatteras Venture Partners, which led the $2.6m B round in 2007, and Brook Private Equity Advisors also participated.
Clinipace has managed over 500 global contract research and regulatory projects and Melissa Daniels, managing principal of Morgan Stanley Expansion Capital, which has invested more than $1.1bn in over 150 companies, said: "We see a tremendous opportunity to serve the unique needs of emerging and mid-market biopharmaceutical and medical device firms; a segment that values innovative solutions to drive efficiencies, and are frustrated by traditional approaches to their clinical development programs."