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DrugDev Acquires Award-Winning TrialNetworks Platform, Launches Innovation Lab, Unveils Investigator Databank Website and Reaches $1 Billion in Global Site Payments in First Half of 2014

Companies mentioned in this article: DrugDev

LONDON & AUDUBON, Pa. -- (BUSINESS WIRE) -- DrugDev, an innovative provider of technology-driven solutions and the industry’s largest network of active global investigators, accomplished several major milestones throughout the first half of 2014.

The company acquired CFS Clinical toward the end of 2013 and customers realized immediate benefits in Q1 of this year by integrating the industry leading site payment solution and site contracting services with DrugDev’s established site selection services.

In May, DrugDev acquired Newton, Mass.-based TrialNetworks, which provides a unified cloud-based platform of trial management apps and site-facing tools that was awarded Disruptive Technology of the Year by Partnerships in Clinical Trials 2014. Following the acquisition, TrialNetworks and DrugDev hosted a collaborative annual Summit for clinical operations leaders in Boston – featuring a keynote from Dr. Jorge Guerra and case study presentations from customers – to share best practices, site engagement strategies and creative solutions to challenges facing the industry.

At the DIA Annual Meeting in San Diego, DrugDev launched its Innovation Lab, a clinical trial technology incubator headed by Chairman Hugo Stephenson, M.D. Inaugural members of the Innovation Lab via strategic partnership are leading electronic consent platform SecureConsent (formerly ConsentSolutions, a division of Enforme Interactive, Inc.) and Applied Informatics, which has considerable expertise in semantic data processing and knowledge extraction from clinical trial protocols and electronic health records.

Also during DIA, DrugDev announced that its Payments division –CFS Clinical – achieved an unprecedented $1 billion in global investigator payments, with a run rate of approximately $2 million in processed payments per work day.

In addition to these milestones, the Investigator Databank, hosted by DrugDev, expanded to five member companies -- Novartis, Janssen, Merck (known as MSD outside the United States and Canada), Lilly, and Pfizer – and launched a new website at investigatordatabank.org, which enables investigators to view and add to their information kept on file by the participating pharmaceutical companies or DrugDev.

DrugDev President and CEO Ibs Mahmood said, “While I am proud of what we have accomplished this year so far, our mission to completely disrupt the obsolete clinical trial process is just beginning. As our integrated suite of solutions and our global network of active investigators continue to grow, we will have an even more direct impact on improving clinical research quality, transparency and efficiency. Looking ahead, I’m excited to see what our innovative customers will be able to achieve with these new solutions as we work together to help sponsors, CROs and sites do more trials.”

About DrugDev

DrugDev simplifies life at the clinical trial site through technology and enables sponsors, CROs and investigators to do more trials together. DrugDev creates and drives standards which promote collaboration, improve quality, shorten timelines and reduce cost. Our solutions include the largest global network of active investigators; the industry’s leading grant payment and site contracting system in CFS Clinical, and the award-winning TrialNetworks platform of clinical operations apps. DrugDev provides Hosted Data Solutions for clinical trials including hosting the Investigator Databank for Novartis, Janssen, Merck, Lilly and Pfizer. Learn more at www.drugdev.com.


Copyright © Business Wire 2014
Contact:

DrugDev
Brenda Nashawaty, 617-688-3253
brenda@nashawaty.com