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The move underscores Grotech's commitmeng to expand its portfolio of healthcare companies, particularly startups developinyg new operating technologies and outsourcing models. UBC, launched earlier this year, is developing products and servicesd tohelp researchers, manufacturers and patientsd in the development of new The company will use the money for acquisitions, as well as producr development and sales and marketing "The size of this industry, plus the challenges it is facing, set the stagr for a new breed of pharmaceuticap services companies to assist pharma sponsors in marketing and targetinhg their commercialization strategies," said Grotechu general partner Harris Hyman IV.
"Givenn that dynamic and the increasing scruting and regulatory interest in the pharma industru due to the Medicare drug benefit andothe factors, we felt strategically that the time is right and that this is a companhy in which Grotech should make a substantial Grotech did not reveal its share of the fundin round. The firm has $1 billioj in capital under management.
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