The acquisitive BioClinica has picked up another service provider, buying a company specializing in safety monitoring and regulatory affairs to build out its offerings in drug development.
BioClinica paid an undisclosed sum for Synowledge, a Miami-headquartered outfit that helps biopharma companies analyze and report adverse drug events in clinical trials. The company employs more than 500 people and offers pharmacovigilance services for every phase of drug development, BioClinica said. Synowledge also markets IT services to assist companies in reporting to regulators.
With the acquisition, Synowledge founder Sankesh Abbhi is joining BioClinica as senior vice president and head of global safety and regulatory solutions, reporting to eClinical Solutions President Mukhtar Ahmed.
The buyout, BioClinica's fourth in about a year, will expand the company's menu of technologies designed to reduce risks in clinical trials and speed up the development process, Ahmed said.
"Synowledge is a proven industry leader in the adoption of pharmacovigilance and regulatory technologies," Ahmed said in a statement. "With its depth of expertise in business process execution, data analysis and application-managed services, we will further extend our eClinical product and services portfolio so that we can provide our customers with a comprehensive offering that spans across the life sciences landscape."
In July, BioClinica purchased MediciGroup, a patient recruitment and retention outfit that uses technology to keep subjects engaged in trials and minimize dropouts. Last year, the company acquired Blueprint Clinical and its cloud-based tool for tracking and scoring clinical trial sites, plus CCBR-Synarc, in a deal that stretched BioClinica's focus to include medical imaging and specialty services for clinical trials.
BioClinica, which is privately held, said its trial technology revenue jumped 51% last year, reflecting a spike in Big Pharma's adoption of new trial technologies. The company reported 25 new partnerships last year, and its buyouts have grown its payroll to more than 1,300 people around the world.
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