Consolidation in the clinical trials management software space recently took another step forward as the PharmaCM platform, along with substantially the rest of the assets of Deloitte Analytics LLC, became part of TrialScope Inc.
Concurrent with this acquisition, the release of PharmaCM CT 2.0 was announced. Version 2.0 is touted for its ability to give pharmaceutical and biotech companies one system for managing the clinical trial application process in both the United States and Europe.
Terms of the deal were not disclosed, but include a $5 million investment in TrialScope by its investors for technology development, sales and marketing, in addition to funding the acquisition. TrialScope's existing investor NewSpring Capital was joined by new investors that include Edison Ventures and Dublin Capital Partners. Additionally, two chairs were added to TrialScope's board of directors.
"We are thrilled with the quality, experience and track record of the team in delivering strategic value to their impressive customer list," said Mike Forgash, CEO of TrialScope.
PharmaCM is a content management platform designed specifically for the regulated environment of Life Sciences. The PharmaCM platform is the basis for a number of modules developed to address specific content management and workflow challenges across the clinical study protocol value chain. According to the company, PharmaCM solutions are currently implemented at 10 of the top 40, including five of the top 10, global pharmaceutical companies.
TrialScope boasts that it is the global leader in clinical trial transparency and compliance. The company's tools and systems enable customers to improve their clinical trial process and mitigate registry and life cycle risk.
"This acquisition was a strategic move for both parties and will benefit all involved — especially our customers," says Thomas Wicks, PharmaCM general manager and newly appointed COO of TrialScope.
"By bringing to market the best tools and technologies to optimize this process, we are not only providing tremendous value in time, cost and resource savings, but compliance and transparency in an increasingly complex and global environment," Wicks says.
