Irish CRO Icon ($ICLR) is plotting a new so-called innovation hub in its native Ireland, planning to hire 200 workers as it builds out a data-minded expansion.
The new operation will focus on R&D of R&D, investigating new technologies and clinical trial processes that can improve how sponsors develop drugs, Icon said. That means pooling together data and working to help clinical trial personnel access that data faster, according to the CRO.
Those 200 new jobs will be spread across IT, data analytics, clinical science, project management, finance and human resources, Icon said.
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| Icon CEO Ciaran Murray |
"As innovation plays an increasingly important role in improving the outcomes of clinical trials, we are excited to reinforce our commitment to that goal by locating our global innovation hub in Ireland, one of the leading R&D and innovation centers in the world," CEO Ciaran Murray said in a statement.
Icon has consistently focused on expanding its technology to stand out among the world's largest researchers, evidenced by its $143.5 million deal for the adaptive trials-focused Aptiv Solutions last year. The company has been deepening its offerings in the field over the past 12 months, unveiling service platforms that allow sponsors to monitor safety issues, keep tabs on sites and track and visualize efficacy trends all in real time.
Icon has also poured money and effort into its infrastructure, spending $52 million to snag Cross Country Healthcare's functional service business last year. Those efforts have paid off, as the company has posted quarter after quarter of revenue growth since ditching the Irish Stock Exchange and making its way to the Nasdaq in 2012.
- read the statement