Ancillare Closes Debt Financing with Fulton Bank, Looks Toward Diversification and Growth
Ancillare, a diversity supplier for the clinical trial ancillary supply chain, secures capital amidst the COVID-19 pandemic.
HORSHAM, Pa. — May 13, 2020. Global Clinical and Ancillary Supply Chain leader Ancillare, LP, the first organization exclusively serving the end-to-end ancillary supply chain management needs of large- and middle-market pharmaceutical, biotechnology, and medical device companies, as well as contract and medical research organizations, today announced it has closed a multi-million dollar debt financing deal with Fulton Bank.
“To secure funds in debt financing in the midst of the COVID-19 pandemic is a significant accomplishment,” said Dr. Joanne Santomauro, Chief Executive Officer. “It presents an exciting opportunity to further shape the future of the Clinical Trial Ancillary Supply Chain at a time when innovation couldn’t be more critical.”
Ancillare, a WBENC certified woman-owned business, has serviced the global Clinical Trial Ancillary Supply Chain (CTASC) for nearly 15 years. The new funds will enable progress towards the organization’s growth initiatives as well as the company’s long-term diversification strategies. The financing presents an opportunity for Ancillare to strengthen its technology platform with robust data and predictive analytics programs, expand its global footprint with new vertical offerings, and enhance customer experiences across all services. Additionally, the company plans to initiate an acquisition strategy to further expand globally.
“Fulton Bank is committed to expanding our specialization in the Life Sciences and Technology industry. Our relationship with Ancillare is an opportunity for us to support a thriving local life sciences organization that is performing a critical function during this worldwide health care crisis,” said Lou Lombardi, Southeastern Pennsylvania commercial market executive and senior vice president for Fulton Bank. “Providing these funds enables innovation, which gives hope for a healthier future.”
“I have full confidence in Fulton – the bank is an excellent partner, and one who understands our business,” Santomauro added. “Fulton Bank embraces our company’s mission and vision which in turn will result in Ancillare’s ability to deliver quicker, better, and more efficient programs to our sponsors.”
As a diversity supplier and strategic partner to many of the top global pharmaceutical and biotechnology companies, Ancillare’s current initiatives are largely focused on developing technology-based solutions for its clients. Recently, the company announced the launch of its Digital Communications Platform, which gives sponsors and their partners predictive insights into the CTASC for their portfolio of studies. The funds secured in partnership with Fulton Bank will allow Ancillare to expand its technology offerings and execute forward-thinking, industry-shaping initiatives.
About Ancillare, LP
Ancillare is the first organization of its kind with an exclusive focus on the global clinical and ancillary supply chain. Ancillare arms sponsors of global clinical trials with a customized, end-to-end Ancillare Supply Plan, enabling developers of new therapies to optimize their clinical study supply chains using streamlined processes, extensive global buying power, a vast depot network and proven teams of clinical, procurement, operations, logistics and regulatory experts. Ancillare’s Turn-Key Operations (A-TKO™) model embraces the complexities and globalization of the clinical and ancillary supply chain by reducing both the overall cost and cycle time of clinical trials, and greatly improving operational efficiency across all levels of the value chain.
Ancillare has supported more than 1,500 clinical trials across 80,000 clinical sites over 100 countries with corporate offices in the United States and United Kingdom, and distribution hubs in Argentina, Brazil, Canada, China, Israel, Japan, South Korea, Mexico, Netherlands, Philippines, Russia, Taiwan, and Ukraine. To learn more, visit Ancillare.com.
About Fulton Bank, NA
Fulton Bank, N.A. is a subsidiary of Fulton Financial Corporation, a $22 billion Lancaster, Pa.-based financial holding company, has approximately 3,600 employees and operates approximately 230 branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through Fulton Bank, N.A. Additional information on Fulton Bank can be found at www.fultonbank.com.