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NETREGULUS RECEIVES $7.2M IN SERIES B FUNDING
Contact: Jim Grosspietsch
Director of Marketing
NetRegulus
630-573-6057
jim.grosspietsch@netregulus.com
CHICAGO – April 1, 2003 – NetRegulus, a Chicago and Denver based leading
software provider for FDA-regulated medical device and pharmaceutical companies, today
announced it has secured $7.2 million in Series B funding from a group of venture
capital firms led by Chicago based KB Partners. The round was co-led by Baird Venture
Partners, with participation from Odin Capital Group. Returning participating Series
A investors include Series A lead Beecken Petty & Company, Cardiac Hill, Staley
Capital Advisors, High Street Partners and Garrett Capital Advisors.
"Given the current economic environment, we’re especially excited by this
vote of confidence in our ability to move to the forefront in a very competitive sector,"
said Mark Schaub, CEO of NetRegulus. "These funds will help us achieve our goal
to be the undisputed leader in quality, clinical, and regulatory data management."
Keith Bank, Managing Director of KB Partners, concurs with Schaub’s forecast.
"NetRegulus is uniquely positioned to be the leader in this expanding field,"
he said. "They have a very unique and diverse product offering, along with a
solid management team with unparalleled domain expertise." Gordon Pan, a Partner
in Baird Venture Partners, said his group was also impressed by NetRegulus management.
"The company has demonstrated the ability to execute in a tough economic climate,"
he said. "Management's ability to generate significant revenue growth and customer
traction with blue chip accounts is quite impressive."
About NetRegulus
Oakbrook-Illinois-based NetRegulus is a privately held firm that has pioneered software
solutions for clinical, quality, and regulatory data management for the life sciences
industry since 1998. The company has gained an international reputation for best-in-class
Web- and Windows-based software that meets or exceeds organizational goals and individual
user requirements. Fully compliant with the FDA’s 21 CFR Part 11 requirement,
the firm offers business process-based solutions for complaint handling, corrective
and preventive (CAPA) management, clinical study data management, adverse event tracking,
nonconformance handling, and other quality, clinical, and regulatory needs. Visit
www.netregulus.com for more
information.
About KB Partners
KB Partners is a Chicago-based venture capital firm established in 1996 to make investments
in early-stage technology companies in the Midwestern U.S. KB’s objective is
to help build dominant new enterprises by partnering with talented entrepreneurs and
experienced managers.
KB Partners manages two venture funds totaling more than $95 million. The firm’s
investors include high net-worth individuals, investment companies, and institutions
with which KB has established relationships. More information on KB Partners is available
at www.kbpartners.com.
About Baird Venture Partners
Baird, founded in 1919, is an international asset management, investment banking,
wealth management and private equity firm with offices in the United States, United
Kingdom, France, Spain and Germany. Baird has been in the private equity business
since the late 1980s and has raised and managed nearly $1 billion across three fund
groups. Baird Venture Partners ("BVP") makes private equity investments
in early stage companies with outstanding growth potential in three industry sectors:
Business Services, Applied Technology and Life Sciences /Healthcare. In addition to
BVP, Baird Capital Partners makes investments in late stage growth and change-of-control
opportunities with U.S.-based middle market companies, and Granville Baird Capital
Partners invests in high-growth companies across Europe. For more information, please
visit Baird Venture Partners' website at www.bairdventurepartners.com.
About Odin Capital Group
Odin Capital Group, LLC, is a private equity investment firm based in Omaha, Nebraska.
Partners David McLeese, Thompson Rogers and Donna Walsh founded the firm in 1999.
Odin focuses on making $1 million to $5 million investments in early and middle stage
private companies. Odin Capital Group is the general partner of the Odin Fund I, L.P.,
a $41 million private equity fund that had its initial closing in October 2000. More
information on Odin Capital Group is available at www.odincapital.com.
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