Current Yield with Participation Funds (CYwP Funds) announced today that Current Yield with Participation Fund II (CYwP Fund II) has invested in LabConnect, a provider of central laboratory testing services for clinical trials. The proceeds will provide working capital to support continued growth.
Founded in 2002, LabConnect manages a network of global central laboratories with services including routine and esoteric laboratory testing, clinical kit building, sample tracking and management, and biorepository and scientific operations support services for biopharmaceutical, medical device and contract research organizations around the world. The company recently added a new 42,000-square-foot operating center in Johnson City, Tenn. with state-of-the-art sample management and biorepository capabilities, as well as space for efficient kit-building operations.