Reported 8 months ago
Clario, a software company that provides solutions for drugmakers to advance treatments through clinical trials, has confidentially filed for an initial public offering aiming for a valuation exceeding $10 billion. The Philadelphia-based company, formed in 2021 through the merger of ERT and Bioclinica, generates $1.1 billion in annual revenue with an EBITDA of around $400 million. Clario is working with underwriters such as JPMorgan Chase, Morgan Stanley, Jefferies Financial Group, and UBS Group, targeting a listing in the following year. The company's software assists in collecting and analyzing data for clinical trials, collaborating with pharmaceutical firms, biotechs, and medical device companies on over 26,000 trials resulting in 800 drug approvals.
Source: YAHOO