DURHAM – The Durham-based, private equity-backed startup Pro-ficiency has bought all “life sciences intellectual property and the associated team of Fugitive Labs,” according to an announcement from the company made earlier today.
Fugitive Labs is described in the statement as “a full-service nationwide product development firm” and Pro-ficiency noted that the acquisition will bolster the firm’s platform and product development capabilities.
“The Fugitive team is an incredible addition for us,” said Pro-ficiency CEO, Michael Raymber, in the statement. “It’s rare to find a product team that understands clinical trials and also develops beautiful, simple, and highly functional user experiences. To have the Fugitive team fully dedicated to innovation within Pro-ficiency is going to keep us lightyears ahead of others in our space.”
Training firm Pro-ficiency lands $3M from NovaQuest, names new CEO to ‘expedite’ growth
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Along with the intellectual property, Erik Guffrey, the now-former CEO of Fugitive Labs is now the chief technology officer for Pro-ficiency, the statement notes.
“What Pro-ficiency is doing to evolve performance in clinical trials is truly unique and exciting,” said Guffrey in the statement. “This team (at Pro-ficiency) is relentless about thinking differently to address problems for study teams and learners at the site. Having the resources, creative support and collaborative approach with a leadership team like this is a dream situation for any developer.”
Another inclusion in the deal, which Pro-ficiency said was the first acquisition made by the company since NovaQuest Private Equity backed the firm with $3 million in 2021, is a collection of platforms “built specifically for clinical trial use and tested with major CROs and sponsors,” according to the statement.
Other terms of the deal were not disclosed.
The latest issue of the Triangle Tweener Fund, developed by Triangle serial entrepreneur Scot Wingo, listed Pro-ficiency as acquired by NovaQuest Private Equity in February of 2021.
NovaQuest recently bought a Durham-based firm, Lexitas Pharma Services, in a deal where financial terms were not disclosed. The group also landed $500 million in funding for its second fund.
