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GEN News Highlights : May 13, 2013
Instem Expands Into Early Trials with Logos Purchase
Instem, an IT solutions provider focused on global early development healthcare, said today it expanded into the early phase clinical trials market by acquiring Logos Technologies and its corporate parent in a deal of up to £5 million (about $7.7 million).
Instem said it will pay Logos Holdings and its subsidiaries Logos Technologies and Logos EDC Solutions £550,000 ($844,324) up-front, and up to an additional £4.45 million ($6.8 million) tied to “performance,” to be paid “in a mixture of cash and shares at the company’s discretion.”
Headquartered in London with staff in both the U.K. and the U.S., Logos specializes in clinical trial solutions to pharmaceutical, biotechnology, and CROs. Logos markets the Alphadas® software solutions suite, an eSource clinical trials system that is mobile, and schedule-driven. Alphadas provides real-time bedside or station-based direct data capture designed to virtually eliminate paper-based data.
As a result of the acquisition, Instem said, it will introduce a Software-as-a-Service (SaaS) version of Alphadas, designed for the smaller clinical units that carry out trials within the early phase market. Instem’s SaaS model offers what the company said are simpler, more cost effective ways to provide software functionality, maintenance, and support over the Internet.
Alphadas will enhance Instem’s Study Workflow and Automation Suite, whose solutions are intended to enable organizations of all sizes to collect, manage, review, and submit study data that streamline processes, increase quality and enhance drug development programs.
“Being part of the Instem group provides us with even greater confidence and the financial backing needed to compete at a new level as we look to accelerate our leadership position in the clinical space while being part of the larger mission to deliver data-driven insights,” Giles Wilson, CEO & founder of Logos Technologies, said in a statement.
Instem said its entry into the early clinical market will provide it with greater access to early phase clinical data in both healthy and patient populations, advancing the company’s strategy of developing translational informatics technology.
Phil Reason, Instem’s president and CEO, said in the statement that integrating Logos into his company will not only expand its product portfolio reach, but provides Instem with avenues for extending its Provantis® and Centrus™ solutions.”
Provantis, which has advanced to a ninth version, is a Windows-based system for organizations and universities engaged in nonclinical evaluation studies; its users range from single-user pathologists to full-function global toxicology/pathology laboratories.
Centrus is designed to meet the needs of life science organizations for data-driven decision making by providing a single, secure environment to access, harmonize, then use early drug development information from sources that include current data acquisition systems, legacy systems, warehouses, partner, and contract research applications.
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