nPhase Series A

nPhase, Inc. is a SaaS-based software company formed to commercialize a cloud-enabled, Part 11 certified  clinical trials management software solution  using Vanderbilt University’s world renown, server-based REDCap electronic data capture application which collects, manage and reports data for clinical research trials.
 
At transaction closing, REDCap had approximately 300,000 users at 1,500 institutions, including many of the most well-known academic research organizations in the world (e.g., Harvard, Yale, Stanford, Johns Hopkins, Duke, Mayo Clinic, Cleveland Clinic, Children’s Hospital of Philadelphia, Vanderbilt).
 
In 2015, nPhase was selected by Vanderbilt to perform REDCap’s software enhancements and bring to market the FDA-certified clinical trials management software solution.  nPhase operates under a long-term, exclusive worldwide license granted by Vanderbilt.
 
In  December 2015, with the assistance of Cypress, nPhase successfully structured and closed a private placement of Series A Convertible Preferred Stock purchased by WRD Capital, Selous Ventures, Solidus, and Vanderbilt University.
 
Cypress acted as placement agent to nPhase in connection with the Company’s equity financing transaction.
 
In the course of the transaction, Cypress also provided value-add financial advisory expertise, including negotiating key terms of the transaction such as governance provisions and investor voting rights.