SOURCESOLUTION AND BIOPROCESSUK ANNOUNCE CO-MARKETING AGREEMENT
SourceSolution, Inc. / SourceSolution, Inc. (PRLEAP.COM) San Francisco - August 27, 2009 - SourceSolution, a leader in procurement and project management software for the biotechnology and pharmaceutical industries, announced today that it has entered into a co-marketing agreement with bioProcessUK, a priority area within the HealthTech & Medicines KTN. This UK organization is dedicated to the advancement of knowledge transfer and innovation within the key application areas of medicines, associated bioprocessing and health technologies (medical devices and diagnostics, including imaging) addressing needs across SME's to large multinationals. The agreement consists of several provisions including co-promotion of each organization's products and offerings.
SourceSolution offers a suite of Software-as-a-Service (SaaS) tools that make biotechnology and pharmaceutical outsourcing decisions easier. SourceSolution's Startup Edition allows biotech/pharma buyers to search their projects against a list of contract manufacturing and research organizations (CMOs/CROs) worldwide, while the Professional Edition allows users to automatically generate Request for Proposals (RFPs) and collect and store responses online. Additionally, the Professional Edition offers integrated vendor and project management capabilities.
In August 2009, bioProcessUK merged with the Health Technologies KTN to form the HealthTech & Medicines KTN for the UK, which is funded by the UK's Technology Strategy Board (an executive non-governmental public body). bioProcessUK continues to facilitate innovation and knowledge transfer by providing unique networking opportunities that help to connect companies, universities, funding bodies, national, regional and devolved administrations.
The co-marketing efforts are expected to benefit both organizations' membership and client companies. Under the agreement, SourceSolution will offer its software tools at a discounted rate to bioProcessUK members. bioProcessUK will ensure that UK CMOs/CROs and member organizations are well represented in the SourceSolution Startup Edition, providing these companies with an additional marketing channel to potential biotech and pharma clients. bioProcessUK biotech member companies may also purchase the SourceSolution Professional Edition at a discounted rate to streamline outsourcing decisions.
"bioProcessUK are very pleased to work with SourceSolution to help UK companies involved in contract service provision increase their global profile and generate further business through the SourceSolution SaaS tools. We also wish to raise awareness of the tools to those UK companies requiring outsourced solutions," noted Dr. Mark Bustard, Head of bioProcessUK.
"We are excited to collaborate with bioProcessUK to offer SourceSolution users exposure to bioProcessUK member organizations. We understand that the decision to outsource critical product development activities to a CMO or a CRO are among the most important decisions a biotech/pharma organization makes. Through this relationship we hope to provide additional resources and benefits for companies outsourcing their products," stated Premila Anand, Founder and CEO of SourceSolution.
About SourceSolution, Inc.
SourceSolution, Inc. is a leader in procurement and project management software for the biotechnology and pharmaceutical industries. SourceSolution is committed to simplifying the procurement process for these companies by offering a suite of specialized Software-as-a-Service tools. SourceSolution allows users to screen potential service providers based on criteria including technical capabilities, regulatory compliance, facilities, equipment, company information, and user ratings by service line. SourceSolution's streamlined format of information allows for a cost-effective unbiased evaluation and management of vendors. Additionally, SourceSolution has also developed technology to help companies manage outsourced projects from start to finish. Visit www.sourcesolution.com for more information.
About HealthTech & Medicines KTN, bioProcessUK
The HealthTech & Medicines Knowledge Transfer Network (KTN) is built on the foundations of the original Health Technologies and bioProcessUK KTN's supporting the broader health technology, and medicines sector. This Knowledge Transfer Network (KTN) is one of fifteen sponsored by the Technology Strategy Board to help accelerate innovation from the knowledge base into commercial reality for UK benefit. bioProcessUK operates within the newly formed HealthTech & Medicines and is dedicated to advancing the UK biological medicines bioprocessing sector. The KTN works closely with the main trade associations (e.g. The Association of British Healthcare Industries, The British In Vitro Diagnostics Association, The BioIndustry Association, The Association of the British Pharmaceutical Industry) and government bodies (e.g. Department for Business, Innovation and Skills, Department of Health, UK Trade & Investment and Research Councils) to support strategic investments in technology and innovation. The KTN supports its members through building networks to address knowledge transfer issues securing funding for innovation. Visit www.bioprocessuk.org for further information.