Phase Forward (PFWD) recently announced an agreement with Integrium LLC. Under the agreement, Integrium will use Phase Forward’s Interactive Response Technology (IRT) solutions.
Phase Forward provides software products, services and hosted solutions for use in global clinical trials and drug safety monitoring activities that assist clients in improving the efficiency of their clinical trials.
Integrium LLC is a contract research organization (CRO) specializing in clinical research on dermatological, cardiovascular and metabolic diseases. Integrium provides a complete range of clinical trial management services for Phase I through Phase IV dermatological, cardiovascular and metabolic disease studies. It works with specialty, development-stage, mid-size and large biopharmaceutical and medical device companies.
Phase Forward’s acquisition of privately held Clarix for $40 million in cash in late 2008 expanded the company into the IRT market. Clarix’s Web-based interactive response system is used for subject randomization, predictive medication inventory management, operational management, and reporting in clinical trials.
Management at Integrium chose Phase Forward’s IRT system due to its advanced technology, rapid deployment and streamlined workflow to support advanced clinical trial planning and management.
Clinical trials are increasingly conducted around the world. Over a decade ago, pharmaceutical firms managed the entire clinical process, but the pressure to cut costs has led to outsourcing to CROs.
Phase Forward’s CRO partnership strategy is designed to assist CRO clients both in the long and short run. CRO-related revenues for the fourth quarter came in at $13.6 million in the last quarter, up 30% year over year.
Read the full analyst report on “PFWD”
Zacks Investment Research
