Little Falls, NJ – February 4, 2009 – Sentrx, a leading provider of technology-enabled solutions and services for global drug safety, announces the completion of a US$3.0 million venture loan from Toronto- based MMV Financial. The Company has a reputation for innovation and leadership in pharmacovigilance and risk management, enabling it to become an integral component of its client’s drug safety operations. Sentrx is privately held with investment from Edison Venture Fund.
"We are pleased to complete this financing with MMV Financial. They provided us with a structure that will meet our needs for the foreseeable future,” said Joe Albano, President and Chief Executive Officer of Sentrx. “With this financing in place we will continue to invest in growth initiatives at Sentrx, ensuring our continued market leadership in the drug safety and pharmacovigilance market.”
“We were very impressed with the senior management team at Sentrx and their experience in the pharmaceutical safety market. The Company has experienced significant growth in the past few years and we are excited to be a part of their ongoing success,” said Greg Dimmer, Senior Vice President, MMV Financial Inc.
Sentrx is a leading provider of technology-enabled solutions and services for global drug safety. Its mission is to help pharmaceutical, biotechnology, medical device, and consumer health companies document the safety profile of their products during clinical development and post-approval, enabling them to minimize risks and maximize benefits. Through its multilingual Safety Response Center, Sentrx delivers a unique combination of highly skilled people, exclusive technology, and best practices in drug safety monitoring. For more information, visit the company's web site at: www.sentrx.com
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Québec, HSBC Bank Canada, NewStar Financial Inc., ROI Capital, and Wells Fargo Company. For more information please visit: www.mmvf.com
Greg Dimmer Joseph Albano
Senior Vice President Chief Executive Officer
MMV Financial Inc. Sentrx
(416) 977-9718 1-888-399-8032