Clinical trial software provider TrialScope has acquired most of Deloitte's life sciences analytics business, picking up a $5 million investment as it works to expand its share of the eClinical market.
Without disclosing financial details, TrialScope said it has acquired "substantially all of the assets" of Deloitte Analytics, which includes PharmaCM, a content management platform designed to aid study sponsors in clinical trial registration and transparency. Deloitte picked up the technology from Intrasphere Technologies in 2011, and the platform counts 10 of the top 40 pharma companies among its users, TrialScope said.
TrialScope also secured a $5 million round from new investors Edison Ventures and Dublin Capital Partners and previous backer NewSpring Capital, cash that helped fund the Deloite deal and will pay for product development and marketing, the company said.
PharmaCM is billed as a streamlined system that allows sponsors to log clinical trial data on government-mandated registries, promising to improve product safety, signal intelligence, pharmacovigilance and regulatory information management.
With the transaction, PharmaCM chief Thomas Wicks will come aboard TrialScope as chief operating officer.
"This acquisition was a strategic move for both parties and will benefit all involved--especially our customers," Wicks said in a statement. "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."
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