PharmaPros--Real-time visibility of data from clinical trials systems
PharmaPros has been around for 15 years, but it's made my list of emerging eClinical firms because of its switch to a software-as-a-service model in recent years. Dataflow Manager, the Cambridge, MA-based firm's top product, was released in 2009 and uses web services to tie together data from multiple clinical research systems (i.e. EDC and CDMS) to provide life sciences companies with a real-time view of progress in trials.
Recently, biotech giant Biogen Idec ($BIIB) signed on to use PharmaPros' Dataflow product to gain unified visibility of multiple late-stage clinical trials, and the firms are working on applying the technology to other trials as well. For Biogen and other customers, PharmaPros has been able to show that its software saves them valuable time by automatically gathering clinical data from source systems rather than placing the burden on trial sponsors to do it manually with spreadsheets.
PharmaPros' dataflow tool appears to be differentiated from competing products such clinical trials management systems (CTMS), which track similar information to PharmaPros' Dataflow product. But CTMS often requires information to be entered into a system manually, according to the company. CTMS also has been a tried-and-true technology in life sciences, and PharmaPros faces the hurdle of explaining to customers how its system is unique and valuable.
While it doesn't share revenue data, PharmaPros says its profitability has increased since it evolved from a clinical technology services company to a provider of SaaS software in recent years. The company is a small operation with about 16 employees, but we'll see whether its revamped model spurs future growth.