MMS set for expansion under new private equity backer Lindsay Goldberg

MMS set for expansion under new private equity backer Lindsay Goldberg

Private equity firm Lindsay Goldberg has invested in Michigan-based contract research firm MMS as new therapeutic modalities drive growth in the drug development industry—particularly cell and gene therapies.

The investment—financial terms of which were not disclosed—will see Lindsay Goldberg take a majority stake, and MMS founder and CEO Uma Sharma will have a significant ownership interest.

A spokesman for the private equity investor cited demand for data driven drug research services as a motivation for the decision.

“We believe that the drug development industry is at an attractive inflection point, with accelerated growth tailwinds driven by the emergence of new therapeutic modalities, including cell and gene therapies, increases in funding to the biotech industry, and sustained increases in the medical needs of an aging population,” the spokesperson said. “Those market-wide tailwinds are expected to generate 8%-12% annual growth for the overall CRO industry, and the data-focused services specialties within the CRO industry should benefit from even stronger tailwinds.”

He predicted that an expansion in the number of data endpoints in studies, the rise of decentralization and the integration of real-world evidence into clinical research will heighten the need for high quality specialist data-focused services.

Lindsay Goldberg plans to help MMS expand, according to the spokesman, who said the partnership will let the CRO “continue investing in the differentiated data-focused expertise necessary to help clients realize successful approval outcomes, while also providing resources for the firm to scale in line with its customers’ needs.”

He cited real-world evidence capabilities, decentralization and technology for advanced data curation as potential areas of investment.

“This transaction will help strengthen MMS’ teams, adding talent where needed to meet the demands of MMS’ customers and empower MMS’s mission of delivering high-quality service and technology solutions,” the spokesperson said.

The investment comes just weeks after MMS forged a partnership with decentralized clinical trial technology firm Thread.

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