Warburg Pincus announced that it has secured a majority interest in South Texas Accelerated Research Therapeutics (START).
START directs clinical trials of novel anticancer agents. START’s head office is located in San Antonio, Texas, in the heart of the South Texas Medical Center. With centers located in the United States, Spain and China, START conducts the world’s largest Phase I medical oncology program – putting more than 400 patients per year on Phase I trials.
Warburg Pincus is a global private equity firm focused on growth investing. Founded in 1966, Warburg Pincus has raised 20 private equity and two real estate funds. It is headquartered in New York with offices across the United States, Europe and Asia. The firm has more than $83 billion in assets under management and an active portfolio including more than 260 companies. To date, Warburg Pincus has invested more than $17 billion in 180-plus health care companies and been an especially active investor in the life sciences arena.
Terms of the deal were not disclosed, but it comes as START has also announced a new chairman and Chief Executive Officer, Nick Slack. The deal has been in the works for roughly one year.
According to data captured in the LevinPro HC database, this acquisition marks the 10th clinical trials transaction of 2024. There were 42 clinical trials deals announced during 2023, a 40% increase from the 30 deals announced during 2022.
