TRI complete second round of funding
Raleigh, NC, July 20th 2015 – TRI, the risk-based monitoring company, is very excited to announce the completion of their second round of funding, and the furthering of its partnership with Peter Brummitt and Bev Mehentee, co-founders of Wider Perspectives Ltd. TRI is enjoying ongoing and rapid growth thanks to strong market demand both for OPRA, the risk-based monitoring platform, and their accompanying professional services exclusively dedicated to quality oversight and risk-based monitoring of clinical trials.
The funding will allow the accelerated growth of the operations, development and QA groups within TRI to ensure the successful delivery of customer projects as well as the ongoing development of the OPRA platform.
“The development of our business in both the US and UK is essential to the continued success of TRI and the ongoing support of our growing customer base” said Duncan Hall, CEO and founder of TRI. “Peter Brummitt and Bev Mehentee are great investment partners for us, and have been instrumental in getting TRI through its startup phase and into production growth. We are thrilled that they have chosen to reinvest and look forward to further developing our partnership and continuing to benefit from their industry experience and insight.”
TRI spotted the need for a dedicated operational platform for RBM early in 2013 and, in the absence of a commercial product designed for RBM, decided that the only way to ensure that need was appropriately met was to develop the software platform themselves. An 18 month development period followed, with the release of the OPRA platform in November 2014. The platform has been through four evolutions since then in order to keep pace with a maturing RBM market and a broader range of customer needs.
TRI also provides a full suite of RBM implementation, training and change management services and are currently implementing RBM projects for Pharma and CRO customers at the small, medium and large ends of the market.
“Providing seed capital for TRI required faith in a vision shared with the team” said Peter Brummitt. “Making a further investment now that OPRA is delighting customers is just good business sense.”
“TRI has a great team and the best RBM product on the market” said Bev Mehentee. “The timing is perfect for what this industry needs now and for the future as RBM becomes embedded in the way we conduct clinical trials – why wouldn’t I invest?”
OPRA – the risk-based monitoring platform.
OPRA has been designed with the sole purpose of offering quality oversight and risk-based monitoring in a secure, cloud based environment on a per study basis, to companies wishing to improve quality and reduce costs in their clinical trials.
OPRA is simply configured on a per study basis to deliver an easy to use visual representation of your chosen KRIs and performance metrics. OPRA enables your central, remote and on-site study team members in the operational processes of identification, management, mitigation and reporting of quality oversight and quality risk management activity, providing that essential audit trail and evidence base for sponsors, auditors and regulatory authorities.
OPRA has been designed for Biotechs, CROs and Pharmaceutical companies, and can be used for anything from a single study right up to an enterprise wide portfolio.
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