Precision Medicine Group (PMG), an integrated team of experts focused on biomarker-guided drug development has raised $275 million in funding led by Berkshire Partners and TPG Growth and also includes significant participation from Precision’s co-founders and management team as well as original investors Oak Investment Partners and J.H. Whitney. . This investment will support the expansion of PMG’s global footprint and provide additional scale to accelerate the development, approval and commercial success of innovative treatments.
Formed in 2012, Precision Medicine Group is a specialized services company supporting next generation approaches to drug development and commercialization. Precision provides an integrated infrastructure that supports pharmaceutical and life sciences companies as they develop new products in the age of precision medicine. Using biomarker-guided drug development to stratify patients, PMG improves R&D efficiency and success for healthcare organizations.
PMG manages every aspect of clinical trials from sites to biomarkers to diagnostics, all under a single roof to dramatically accelerate the pathway from proof of concept to drug approval. It’s a new reality, bringing unprecedented abilities to interrogate and translate biological information—and unprecedented opportunities for life sciences companies to achieve their goals faster and more cost-effectively.
“This is a significant milestone for the company,” said Mark Clein, CEO. “It recognizes both the progress achieved to date and the bright potential for our future. We are fortunate and gratified to have the support of our capital partners and colleagues.” Chairman Ethan Leder commented, “We are delighted to have Berkshire rejoin us as they were a key investor in our previous business and added great value to the team.”
Since its inception in 2012, PMG has grown to over 1,000 employees and 22 locations in the U.S., Canada and Europe.