September 23, 2021

Morgan Stanley Expansion Capital and Ally Bridge Group Lead $135 Million Investment in Elligo

Proceeds Used to Acquire ClinEdge and Invest Further in Technology & Data Platform

SAN FRANCISCO--(BUSINESS WIRE)-- Morgan Stanley Expansion Capital and Ally Bridge Group, today announced the firms have completed an investment in Elligo Health Research®, (“Elligo”), a healthcare-enabling research organization powered by the novel IntElligo® technology. The $135 million Series E financing also included participation from Norwest Venture Partners and all major existing investors, including Cerner, Hatteras Venture Partners, Noro-Moseley Partners, Piper Sandler Merchant Banking, Shumway Capital, and Syneos Health. In addition to funding the purchase of ClinEdge, this financing allows Elligo to invest further in its technology platform and leverage data in new ways to address current challenges in the clinical trial industry, enhancing Elligo’s mission of accelerating clinical research and allowing it to further the industry’s goal to improve diversity, equity, and inclusion among research participants.