New Harbor Capital has completed an investment in Monroe Biomedical Research (“MBR”, “the Company”), a rapidly growing clinical trial site business with a track record of recruiting patient populations for complex clinical trials across a broad spectrum of therapeutic areas.
Monroe Biomedical Research was founded in 2015 by Suvi Gross, Ben Karsai, and Dr. Greg Feldman, and is headquartered outside of Charlotte in Monroe, North Carolina. The Company has a history of achieving top enrollment in a wide range of clinical trials, including investigations into treatments for pulmonary, metabolic, cardiological, psychiatric, and infectious diseases, as well as vaccine studies.
New Harbor was drawn to MBR due to its unique and scalable clinical research site, robust patient base, and accomplished leadership team, as well as growing trends in the clinical trial, biotech, and pharma sectors.
“Suvi, Ben, and the rest of the MBR team have built an incredible clinical trial site business,” said Bo Mlnarik, Principal at New Harbor Capital. “We appreciate the opportunity to partner with them to build upon MBR’s strong reputation and innovative clinical trial model. MBR is well positioned given its track record of patient recruitment and trial execution, which are the two primary challenges of the drug development ecosystem today.”
“We are thrilled to be partnered with New Harbor Capital,” added Suvi Gross, Founder and President of Monroe Biomedical Research. “New Harbor’s expertise and track record of scaling founder-owned, multi-site healthcare companies will be extremely valuable as we seek to expand our reach and achieve the vision we have for the business.”
McDermott, Will & Emery LLP and RSM US LLP provided counsel and advice to New Harbor Capital. Crosstree Capital Partners, CliftonLarsonAllen LLP, and Miller & Martin PLLC served as advisors and counsel to Monroe Biomedical on the transaction. Avante Capital Partners provided financing support and was advised by Choate, Hall & Stewart LLP.
About Monroe Biomedical Research
Founded in 2015, Monroe Biomedical Research (MBR) is a private clinical trial facility headquartered in Monroe, North Carolina. MBR has a track record of achieving top enrollment in a diverse array of clinical trials, including studies investigating treatments for pulmonary, metabolic, cardiological, psychiatric, and infectious diseases, as well as vaccine studies for preventing infectious diseases. MBR is led by two industry-leading Principal Investigators with a combined 10-plus years in clinical research and a strong site management team. For more information, visit https://monroeresearch.com/.